Hey - you guys gotta learn how to check out the U.S. Patent Office - it can provide hours of aimless enjoyment and piles of useless information. For example here's a link to Last's Record Cleaner, Stylus cleaner, and Record Preservative patents:
http://patft1.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&u=%2Fnetahtml%2FPTO%2Fsearch-adv.htm&r=1&p=1&f=G&l=50&d=PALL&S1=%22record+preservative%22&OS=%22record+preservative%22&RS=%22record+preservative%22
The Preservative stuff is down toward the bottom of the page. In case you can't get the link to work, here's a reprint of that area:
"Compositions for preserving records comprise about 0.05% to about 0.2% by volume perfluoropolyether having an average molecular weight of about 2,000 to about 6,000, such as Fomblin.RTM. Y25, and a perfluoroalkane carrier."
"record preservative compositions comprise a perfluoropolyether in a perfluoroalkane carrier. The perfluoropolyether is preferably a perfluoro(polyoxyethylene-polyoxymethylene) block polymer or a perfluoro(polyoxypropylene-polyoxymethylene) block polymer, having an average molecular weight of about 3,000 g/mol. Presently preferred perfluoropolyethers include Fomblin.RTM. Y25, Fomblin.RTM. Z03, and the like, preferably Fomblin.RTM. Y25/6. The carrier is generally a perfluoroalkane or mixture of perfluoroalkanes. Suitable carriers include perfluoropentane, perfluorohexane, perfluoroheptane, perfluorooctane, and the like. Presently preferred compositions contain from about 0.05% to about 0.2% Fomblin.RTM. Y25/6, about 0.25% to about 1.0% Fluorinert.RTM. FC40 (a perfluoroalkane), and the remainder perfluorohexane (PF5060, 3M Co.). The composition is prepared by dissolving the perfluoropolyether into Fluorinert.RTM. FC40, and then dissolving the mixture into the perfluorohexane. The composition is filtered through a 0.2 .mu.m filter, and is bottled in glass."
Whew - I wouldn't try mixing this stuff up at home! Looking at this, though, it is not exactly as I had been told - but this patent was from 14 years ago and my info was from about 6 years ago - and it's probably been changed again since. The ORIGINAL version appears to be more of a Teflon surface lubricant than a Vinyl Teflon-izer.
Perhaps we have a real chemist on Audiogon who could expand our understanding.