If you want to use a real lubricant instead of the "well its good enough for the Army" stuff try using some of the products from Sentry Solutions. If a lubricant is all that you are after Smooth Kote and Hi Slip grease will do wonderfully for you. For protection try using Tuff Cloth and Tuff Glide. These are simply the best lubricants you'll find, just look in the cleaning section at the reviews and you'll see that I'm not FOS.
Other than the grease, obviously, their products aren't greasy or oily to the touch and don't reek to high heaven either.
Research the stuff a little and if you're interested drop me an e-mail and I'll send you a sample, you definitely need to try this or something other than motor oil.
I have a few more samples for others who are truly interested in a dry lube, I'm not the manufacturer so I had to buy my samples and my supply is limited. I truly believe in this stuff or else I wouldn't be offering to give it away to my fellow AR15.com members.
Jake