Short Stake,
I use the equipment that I do for other than budgetary concerns.
The Pope lubricator's "chamber", like that of my rifle, is cut to precisely match the bullet my mould casts. Therefore I can't damage the bullet in any way by lubing it using this tool.
For other black powder bullets my old (it was made prior to the engineering change of 1905) #1 Ideal lubrisizer (a precursor to the Lyman-Ideal #45 and Lyman #'s 450 & 4500) is more than adequate. Black powder bullets are made from soft lead, good black powder lubes are generally quite soft. This machine is more than up to the task. I do use modern "H & I" dies and punches, the principle upon which these work has been greatly improved over the years.
The SAECO and current Redding SAECO lubrisizer is a great piece of equpment. It's biggest drawback is that for many blackpowder bullets you'll have to go the "custom" route on sizing dies and top punches. Unlike old Ideal casting equipment, SAECO products don't go back to the black powder era. That's not to say that there aren't a few current offerings from Redding that may fit your needs, it's just that if you're willing to deal with E-Bay and other on line auctions you'll find a much greater variety of "stuff" for the black powder shooter available.
The Star lubrisizer is the greatest thing since sliced bread for the plinker, or serious shooters who aren't serious about shooting soft bullets. It, and a few former Star clones are fast, but they do marr the bases of dead soft lead bullets. If you're casting from wheelweights (or some other medium to hard alloy) you'll not likely have a problem with a Star.
Lube? For black powder I use either beef or mutton tallow and beeswax. The consistency is adjusted to the conditions I will be shooting in.
Bob