Hey Snuffer - my Goodoien .40 barrel makes the same size groups at 50 yards as-does my .45 GM barrel - whether using an oil lube or water based.
I see no difference at that range. As I haven't benched either at 100 meters I can't say whether the .45 trumps the .40 or not, but at the longer ranges, I suspect it will.
With LHValley lube, the .40 really liked 65gr. 3F GOEX with either the .398" or .400" ball & .019" (tightly woven pocket drill) patch, but shot just as well (and cleanly) with 75gr. 2f GOEX with exactly the same recorded velocity- between 2,240fps and 2,260fps. I suspect the 'sliptivity' (Taylor's word) of the LHV is likely responsible for the speed with that load - and the 42"(at that time) barrel.
Water based lubes allow less powder, but the slippery lubes, both LHV and Hoppe's #9 Plus demanded more powder or they would simply not group well.
Patches retrieved for examination showed they were re-usable - if one wished. That's a lot of speed, a lot of torque in the rifling - yet due to the tight fit, they patches were unharmed. I do not wipe the bore at any time while shooting at the range. If it sits for a long period of time between loadings due to palaver with other shooters, I'll dump in a 30 or 40gr. charge and a VERY Spit-wet patched ball, load and fire that - the barrel is then as easy to load as usual - 2 meaty fingers on the rod.
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My .45 GM, also 42" bl. liked that lube as well. 75gr. of 3f GOEX with .445" and 10 ounce denim (.0225") along with 85gr. 2FGOEX produced just over 2,200fps and also shot those "all-the-balls-touching groups" off the bags at 50 yards. That was on a 4" black bullseye. If I enlarged the aiming point, the groups then got larger - go figure.