Per DAIadvisor's maintenance tutorial, Rem Oil will eventually dry and leave a light layer of Teflon. I've used that in the places indicated in the tutorial. Interestingly, I also have a bicycle chain dry style lube with Teflon in it, and it costs quite a bit more than Rem Oil although the two seem very similar to my non-analytical-chemist eyes. As for graphite lube, I have some but have not used it on any of my firearms. Based on the finish on Steyr slides, I think it might work well in the rail channels if you got a thin layer to stay in there. I don't think I'd put any inside the action group though, I'd stick with BreakFree CLP for that.
I found that using tetra grease on the slide rails makes it buttery smooooth. I have never had a failure of any kind and have over 1000rnds thru it so far. My M9 has quickly became one of my favorites. I use tetra grease on quite a few handguns esp[ecially the ones with tight tolerances.