I may do that my area of the world is very dry humidity wise, so dry in fact i have found leather shoe pieces out in the old homestead dump's that have been laying on the ground for at least a100 years. Another thing to think about is viscosity of the oils used and its relation ship to the process. oils will at some point migrate out of the leather just due to gravity, lighter oils moving easier through the leather fibers may be lost sooner, its another reason we have to add oils over time. You may want to think about what your pieces are going to be laying on or in as they also could wick the oils away from the leather.
I do have some rendered elk tallow I could try, as well as the manufactured product i use. wish i had some bear grease it was traditionally used as well.