I have used lanoguard spray and also use waxoyl regularly.
I mix wayoyl 50 50 with new oil, otherwise it flakes off after 6 months, personally I think it's carp and does nothing especially over even a tiny amount of rust. The lanoguard is different, it dries very sticky and clingy and goes on thin so it gets into the panel laps and penetrates surface rust. Lanolin doesn't dry out like petrochemicals.
Is it worth it? No probably not. The best rust proofing is oil and dust. Ever scraped around a gearbox or steering box? Factory paint still on the chassis there while the rest of the car is rotten.