Water Displacing formula, 40th attempt, according to the man who formulated WD-40. It is an interesting product, for sure. WD-40 has a VERY loyal following among salmon and trout anglers in the western United STates, from California to Alaska. It's interesting to WATCH what WD-40 does when liberally sprayed on a salmon trolling plug, which is then placed in a clean glass jar filled with water and capped. Within a very short period of time, AIR bubbles will form, all over the entire lure, and will dislodge themselves, repeatedly, for minutes on end. Many guides here who fish for deep-water lake trout and landlocked salmon in clear lakes feel that salmon and trout find the air bubbles a "trigger" that indicates an organic nature to what are basically, hard, injection-moulded plastic plugs, like the famous Silver Horde, Tomic, or J-Plug.
I have caught saltwater chinook salmon using WD-40 sprayed on my rusted lead sinkers, as well as on my rotating flasher, herring dodger, or even on real, genuine dead herring baits.
WD-40 DOES have lubricating properties; anybody who say it doesn't is incorrect. It also does force water out; the attempt was to create a spray that would DISPLACE, or drive-out, moisture, according to an article I read which interviewed the creator, many,many years ago. It's a really handy product to have for uses where the goal is to get water out of "mechanisms" and "machinery", without the need to disassemble then clean,dry,and lubricate the entire device or works.
Anyway, on the tripod leg...yeah...paraffin wax. GOOD!