I've used the stuff before. It holds up fairly well on things that flex. (Cable ends) One shackles, the first use will rip it off, but they'll stay looking nice until you have to hook up a cable. The stuff isn't rock hard, it's a bit soft for tool gripping. (As it should be)

The only thing I don't like is once you open the can, it's like PVC pipe glue - the clock starts ticking. Get yourself a big pile of things to coat, so when you open the can, you can do a big batch. Chances are that the next time you open the can to do more, (After a couple of weeks) the contents will have become semi-solid.