I bought into the Moly craze a few years ago while heavily involved in NRA highpower rifle competition. It was supposed to be the best thing since pockets on shirts. Claims ranged from more accurate, higher velocity, less barrel wear, cleaner barrels, etc. IMHO the first three claims were false, the latter is true.
Another quirk is that some rifles require that the barrel be "seasoned" w/moly before POI will stabilize. I was fortunate that both of my match rifles shot same POI w/moly as they did without, but had a Mod. 70 30-06 that did not.
Velocity drops w/same powder charge compared w/naked bullets, but you can get back up by increasing charge. Barrels wear out from throat erosion caused primarily by hot gasses first and friction second so, in my experience (which is, admittedly, somewhat limited as I have only worn out four 30-06 and one 308 Norma Mag. rifle barrels to date), the useful accuracy was about the same for coated or non-coated bullets. Barrels do tend to go longer between cleaning w/coated bullets than bare bullets, but accuracy is not improved per se. Copper fouling is reduced, therefore cleaning is a bit easier w/coated bullets.
I used the NECO process which used small steel ball bearings to help coat bullets in a tumbler and did not find the process to be terribly messy, but a good idea to use a dust mask to avoid breathing moly dust when charging the tumbler or dumping the coated bullets after coating as some fine dust does escape at times. Rubber gloves help, too.
All in all I found very little benefit from Moly so discontinued its use. This is especially true since Wipeout foaming bore cleaner came out making bore cleaning so easy.
Regards,
hm