Ive been using WD 40 for about 20 years. I first learned of it (and the benefits of spray carb cleaner) when on an Army Combat Pistol Team. Over the years I have tried new specialty cleaners/lubricants as they showed up on my range's shelves. Other than being much more expensive, I have found no difference in performance. WD 40 and carb cleaner even worked better than some of the new stuff.
I will admit that I have not used them of the new hi-tech weapons, preferring my 1911A1 and various wheel guns.
I was the OIC of an Army Pistol Team. If my CSM ever saw me using WD-40 he'd tar and feather me. I have used Brake Cleaner (same thing as carb cleaner) to great advantage once I learned it will just disintergrate anything in the way of plastic mags. The army would never sanction WD-40 in any official sense. Most of the stuff we learn comes in the form of sage advice from the old hands, right? Sometimes sage advice is more urban legend.