Yes.
 

The bolt will cycle much easier when it is applied to the upper and side bolt surfaces. If/when you begin to add the Moly Fusion treatment to moving parts you must be certain that there is no leftover residue to get where it should not be, like on the engagement surfaces of the control parts. Even residue on your fingers can accidently treat a part to an unwanted condition just by inadvertently handling those parts while treating areas that you do want treated. I have latex gloves that I use and discard to ensure I have no "Cross contamination".
I have "Slickened up" my VQ action considerably, however I have done it in a single step fashion, and tested each time in between treating each part, and I always thoroughly clean the left over residue off of each part before re-installing it into the action. In my case, I use acetone because it is readily available, and I feel comfortable about its ability to remove excess product from the parts. The simple fact that I use this product in this very precise and controlled manner should be an indicator of how well it works (all of my 22 lrproceedures have been based on what happens when you don't).
Once you have things where you want them for treatment (as well as nothing where you do not want it to be), then you can re-adjust your action (springs, etc.) to re-gain the correct timing for the ammo that you are using.
I haven't posted a lot of the information that I do have concerning the use of Moly Fusion simply because my testing is not complete, and when I do post very valuable, useable information, I need it to be definitive to the people receiving it.
I will also say for now, that the use of Moly Fusion in the right (correct for your action) manner, I have also been able to close the gap considerably between the difference in energy loss between a blowback action, and a bolt action.
If say the blowback was demonstrating an approximate 8% loss untreated over an untreated bolt rifle, that difference in loss has been cut into less than half of what it started out to be. I think a properly treated blowback action can get to within 2% (or less) of a treated bolt action.
One of the biggest features that I have noticed, is that the difference between a cold barrel and a treated hot barrel (they actually never get hot after you treat them properly, they just warm up to an even barely warm temp and then stay consistently right there) is that the difference in POI between the first cold shot and successive shots becomes much less. Sure, I might shoot ten rounds out of a cold barrel to "Bring it up", but it doesn't keep shifting around as barrel temp comes up. This is even more noticeable in the HMR, and you might imagine how incredibly valuable this might become in a .204 at over 4,000 FPS. Anyway, just some tidbits. Yes, I see a lot of improvement from the use of the product in my testing (all the fast moving copper stuff), but I don't speak to 22lr. because I have very limited testing with it. It is an effective tool, and you can gain much better performance on several fronts within your rifle, but please use some common sense and think ahead when you apply this product in and around a single action control mechanism, it really works much better than people think it will. :t