In the Paper Jacket, Paul Mathews talked about his best lube being 45% beeswax with 55% Vaseline - by weight.
I don't have a scale that would measure these amounts appropriately. So, I melted a quantity of wax and Vaseline, and measured the appropriate percentages by volume, not weight, and mixed together.
I'm left with a jar full of opaque, whitish-golden material that actually smells really good.
The lube itself is pretty hard - harder say than the consistency of shoepolish in a small tin. I can scrape an amount out with my fingertip, and kind of smooth it out on my fingers...it seems right, but I wonder if it's actually too dense/hard.
As a side note, this stuff looks to be a fantastic waterproofing material for leather boots.