In theory, silicone lubricants provide a non-sticky lubricant that is less likely to attract dirt and grime than tradition oil based lubricants.

THAT is the theory part. You can get that right from the can.

In actual use, I have found that silicone spray does not provide very good lubrication. I purchase oil based lubricants and greases rather than the silicone types.

If you have a can of it that is burning a hole in your tool box, give it a try and decide for yourself.

I would stick to lubricating the chain, however. Don't try to spray it into any bearings.