I was intrigued by this topic,
So I got my hands on some WS2 dry powder (0.6 particle size fss), as well as some grease. Not the cheapest stuff, but a little should go a long way.
Tried rubbing it dry on some 1911 contact parts and components: acts similarly like you would expect graphite powder to do if you were to rub it onto something. Very fine, light grey sheen. Not sure how permanent it is, since, if you can rub it on, it will rub off over time. Can't really tell the difference vs. a wet lube.
Mixed a few ounces in 0.5 L motor oil and disperses very well, makes the oil ink black, stays dispersed over a few days, flows with the oil. Poured it into the top of my daily driver-- drove it a few days, checked the dipstick-- I can't tell looking at the dipstick that this black stuff was poured in (ie looks like normal dipstick dip, clear oil on it).
So from a macro basis, nothing. Without doing some more scientific measures and endpoints, so far no worthwhile advantage or disadvantage.
Next is the race engine...