I spray it around my bike's underparts after a good wash - anything that's Aircraft Certified has got to be good right?:inlove (I'm a sucker for stuff like that!).
Not been using it long enough to know if it makes a lot of difference but a lot of people swear by it. One thing though, it doesn't dry so only spray it on bits that you don't mind being greasy (NOT tyres or discs!) - and it can look like you've got an oil weep if you forget it's on there!
If you're using your bike thorugh the winter I reckon this would keep it pretty corrosion free.:thumbup