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Cheaper than mineral? I find that hard to believe, unless your suppliers were a bunch of scoundrels. Mineral oil should be 50% cheaper per ml.

Another issue is that it may not be too good on exfoliated skin. Try to get your hands on an msds. Mineral oil is safe as it's food grade.

I've heard that it might do funny things to C-steel but I'm not sure how true it is. It's a good water displacer though.

Door hinges, lock cylinders, hair clippers and cutting boards to name a few more uses.

For regular use, I just wipe off the soap with cotton balls and alcohol; it also acts as a dessecant. I wipe off the excess alcohol with a kleenex and it's good until its next turn.
For long term...