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I've been told it's just mineral oil. Can't harm much but doesn't do anything either. As a Mustang enthusiast, I've come to understand that Carroll Shelby will do anything for a buck.
Stuff actually does improve fuel efficiency slightly if used continuously, but product cost is probably higher than the fuel saved. Another thing is a Fitch fuel catalyst which some of the Hot Rod tv show's seem to like for freshening the fuel. Was given one to test, so put it in the fuel line of my daily 08' Pontiac GXP. After some time in the same driving pattern, milage did go from 24.5 to 25 or about 2%. Considering these are about $200 buck's, not sure the math work's out so well here.
we used duralube at the heavy truck leasing place i worked in tampa. we became convinced when, after getting one of the detroit series 60 motors warmed up we poured in the half pint of it and the trucks motor quieted down noticably, fuel efficency went up too, especially in the larger motors.
I like the Lucas oil treatments and they are a major NHRA sponsor. Their climbing gear lube additive works EXCELLENT! There is also a thin synthetic version for ATF required manual gearboxes, it really quited down the 5speed and Xfer case in my Wrangler.