An interesting discussion, a great deal of good information both on the problems of determining what is in various products and what they may or may not be worth.
As Keith accurately points out it depends on what finish one wants. Further as many here have noted there are a number of different techniques to achieve a desired end state. More ways than one would want to count, in part because of differences in desired end state.
There are many better gun refinish experts on this page than I; more than one who does it professionally. I do not argue whether they are wrong or right. I can only address what my limited refinishing for myself has shown me.
Going back to the base question at the start of the thread. Timberluxe? Yes, I have used it, though to refresh, not refinish and I thought the results decent. The cost, cant say I worried about it much, but I can see the reluctance by some versus other good options.
I have also used the Purdey Warthog kit for a complete refinish and very much liked the results.
I do not use Timbeluxe to refresh gun finish anymore, for the last few years I have used CCL branded products from the UK and have been happy with those, though having read the thread before I probably overpaid. Then again not that much and I dont care