I used SPG for years until I got squirrelly and decided to make my own lube. Even then I used the SPG as what to test my concoctions against. It is good lube for both smokeless and those other powders. 

40 Rod

I have used SPG lube since before it was commercially available. Back in the early to mid eighties there was a group of local shooters who were trying to figure out why our black powder loaded rounds were not performing as well as the historical accounts. When Steve wasn't guiding, he was working as manager, wrangler, caretaker, security, fire-watch, etc. for a remote wilderness guest ranch. This left him with a lot of unstructured time to shoot and experiment. Sitting around talking guns at a mutual friends house in Big Timber, Steve mentioned that he thought he was finally on to very good bullet lube formula (which he was convinced was at the root of the accuracy/multiple shot problems we all seemed to be having). He gave me a lump of the stuff about the size of a large grapefruit, asked me to let him know how it worked for me. It basically cured my accuracy problems. Shortly after that, I heard that Steve and Mike Venturino (part of this small group of shooters) had teamed up to market Steve's lube. I have used SPG lube ever since. I took a small hiatus back in the early nineties, to experiment with lubes, pretty much spent a small fortune trying to replicate a lot of the formulas in Ned Robert's book, and never came up with anything that worked even remotely as well. 
Tom W.

Also use SPG. Have recently been using a different lube from another fellow in Montana, but have had no problems with SPG.

Never used the stuff.  Made my own based on Harry Pope's lube formula since I started shooting BP cartridge rifles.  I've substituted some of the ingrediences over the years as a few of the items are sometimes hard to get.  It all worked.

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I stopped using SPG when it went up in price from 2 bucks a stick ...
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IMO, this is superior to SPG for both black & and smokelss powder reloads:
40% - Mutton Tallow
40% - Paraffin
20% - Beeswax
Source: 1943 American Rifleman article

No lube starvation - leading; stable in both hot & cold weather - long term adherence to the GG's
(under 3 ft of salt water from Super Storm Sandy)... and even lubes 220 Swift Pb reloads at 3600 FPS

No, paraffin is not a petroleum which creates a hard foul.  It is an alkane

I have used it in a 40-70 straight as well as 38-40 and 45-70 using smokeless with no problems. Don't really like the price either but it does the job and is readily  available. 

JHolland

I've used SPG in 32-20, 38-40, 44-40, 44 Spec, 32-40, 38-55 and 40-65. Also in 7.65x53 and 30-40 Krag.
Doing an experiment with Oregon Trail bullets, I boiled out the hard lube and re-lubed with SPG. Great increase in accuracy! I use it for all my cast bullets.