IMHO superior to Lanoguard (it gives a heavier coat) yet with all the same benefits. Much less expensive too...
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Late summer each year I hose off the undersides and let it dry for a day or so. Then I change into the wife's pyjamas for protection and crawl underneath for a good spray. 20 minutes later its done and the Jim Jams are neatly folded and stashed undernher pillow.
It easily lasts a year, and would would probably go a lot longer. All the undersides, subframe, lower engine bay, inner arches and outer arch lips, scuttle, quick and easy.