I did already get myself some Surface Shield which is exactly that kind of lanolin based protectant, after also reading about some of the more hardcore stuff like POR-15 that I'd worry could trap water or hide damage.
I've used it a bit on my car near where I have some wheels removed to work on the brakes, and tried it on some garden tools.
Impressions are very good and I totally plan to cover the underside of my car with this stuff when finishing up work on it. Just not the exhaust I imagine.