XCP is a heavy, gunky brown sustance that sticks like glue and seems to remove rust when left alone. Horrible nasty sticky stuff that if you coat an object with it: will probably resist sinking in the North Sea with a ferry and recovery. It's not going near my bike apart from inside steel parts. Putting it on the outside? you might as well find a crude oil tanker disaster and run the bike into that!
ACF50 is a heavy synthetic oil which is much less sticky. Like a heavy duty WD40. Locks and electro-mechanical stuff like it and it isn't sticky. I've not coated the bike, but have used it in switchgear and electronic components. When I finally own a compressor (and I've arrived) then I might mist the bike with it.
Spray the bike with XCP? Only if I was in horrific weather and salt-laden roads for most of the year. It's the stuff for time capsules, offshore drill rigs, garden implements and anything you don't care for but don't want to decay. If you keep your poor bike outside and want some resale when selling the poor thing, then this is the stuff for you.