Nothing wrong with paraffin in the lube mix. I use bee's wax, mutton tallow, and paraffin. Works outstanding as a black powder lube and doesn't do bad for smokless eigther. As good as any and better than most I've tried. I prefere the mutton tallow, get it from Dixie gun works, it's got lanolin and seems a bit slicker than crisco or olive oil. I've never had mine to go bad, this latest batch I've been using for over 5 years. I do somtimes over heat it a bit I think and when it starts looking a little to stiff I add a little more mutton tallow to the mix. Paraffin is one of the few petroleum products that won't turn to asphalt with black powder.
I forgot to mention that I pan lube and use the double broiler method and sometimes get it a bit hotter than I think I should.