I have a slightly different way to skin the same cat, (sorry Gatofeo). I too was very shocked at the price of W Wads, which is kind of how I found Graybeards in the first place. I knew there had to be a place where the great minds of the cap nandball world hung out, and that I could find all the answers to my new found passion, (cap n ball) questions.
After reading Gatofeo's lube recipe, I ordered the mutton tallow from Dixie, and used the recipe..I cut wads from window felt with a punch that I made from a closely sized roll pin that I ground a bevel onto . Then I dipped them in the melted mix and had sort of mixed results. Only that some would resemble the W Wads, and some would be very gloppy.I thought that the fringe of the rough cut wads might be hanging on to too much lube, or that when pulling them out of the melt , and setting them down that they would puddle up.Anyway , after some more trial n error, this is what I do now. I gave up on the muton tallow,and replaced it with "Snowcap" lard,(cheaper,and easier to get), I bought 2 different sized drill press mounted wad cutters from Buffalo Arms.(36, snd 44) these are made by Lee Shaver I believe, high quality, and will last forever. And now I dip 4 foot lengths of the window felt thru the melted stuff and let the whole thing dry thourouly. Then the pre-lobed strips are run under a cheap drill press with the wad cutter mounted in it .The results are very consistent wads , very much resembling W Wads . (Isn't it funny that W Wad are much smaller than a nickle , but cost more, and there not even shinny?)but I digress.
I like using wads opposed to lubing the cylinder mouths with gunk, simply because it is faster. I can powder up 5 cylinders, then place wads on top, seat them, and roll 3 balls on top , loosely place the thumb on my left hand on the 2 that are not under the rammer , and seat 3 ball in about 2 seconds , then repeat this for the remaining 2 cylinders. If I were to try that without the wads , I would have all the powder from the other holes going everywhere.I might even get some on my cigar, and that probably would hurt.I need this speed because if I were to hold up the show at the monthly CAS shoot that I attend, while I was on fire, or pumping gunk into my guns with a turkey baster, I might become the target on the next stage. (those guys are brutal). And while I will never be able to out shoot my old buddy "Cowpox" , at least I can burn more powder.
Kip