Funny you would say that because ArBuckle swears by the stuff. It is made of several kinds of oil and since they always used oil to anoint wounds in the bible it seemed like a good natural product.
Biblical connotations aside, these products prevent a good heal, and can effect the colors. They keep the tattoos "wet" too long.
My method is keeping the bandage on just long enough for bleeding to stop. Then wash it 2, sometimes even 3 times with warm water and soap. Repeated washings ensure that all vasaline and white bloodcell goop is gone. Then air dry. Repeat the process twice daily until the tattoo starts to "peel" like a sunburn and then you know you're ready for a light, A&D vitamin enriched lotion.
Any lotions applied before the dry, peeling phase only hurt the healing process, and the colors, etc.
Just my thoughts as a guy with a lot of tattoos and someone who's been around in the industry.