I have used it for several years. It seems to work great for my application which is mostly in the PD. fields. I shoot match grade barrels in most. I doesn't seem to work quite as well in rough factory barrels such as Savage until you get the chatter marks smoothed out. This is my process for coating them.
Clean bare bullets with acetone as mentioned above.
I put them in a toaster oven set at 150 to 170 degrees for about 15 min.
drop them in a pill bottle filled with steel shot and HBN right out of the oven.
Tape the lid shut with electric tape put them in a tumbler for 1 to 2 hours.
Take them out and put them in a wool sock and shake them back and forth for about a min. to get the excess off. Put them in a plastic ziplock samwich bag and back in the box they came out of. redy to load.
I can shoot up to 100 rds. without cleaning barrels with no noticeable accuracy loss.
Good stuff in my opinion.
That's essentially what I would say about the process and the results with tungsten (aka Danzac).
The only exception would be that I use the (tri-chloral type) automotive BRAKE CLEANER to degrease the bare bullets laid on a terry cloth towel, and then rolled back and forth to first degrease them before tumbling. After tumbling/coating, I lay them on a clean towel and with a back and forth motion remove any excess powder and polish the bullets. NO toaster oven needed, minimal waste or mess.
Rick Fox told me too that at some of his BR matches, it is common to run as many as 100 rounds between barrel cleaning, w/o loss of accuracy.
Far as mess goes, there really isn't any that get's away. I get skilled (trial and error) at estimating how much powder to put in the pill bottle and bullets to coat the bullets fully w/o wasting any. AND, dumping the bottle of bullets into a flower sifter held over the funnel gets most of the excess (recovered), so there is even less that rubs off on the towel.
Sounds like it boils down to $$ and availability of the base materials. It has been a while, because the stuff goes so far(!), but there are several industrial supply outlets that sell the WS2 in 5 micron size (some say is ideal for bullet coating: seems so). So, is one limited to TUBB as a sole supplier, or is the hbn powder available at industrial supply stores, do you know? (T'would be good to know...)