Through a series of bad decisions, I ended up with two copies of an RRL jacket that I fucking love but which is a size too big for me, so I never wore it. I finally got around to throwing a ton of Lexol and two coats of Obenauf's at it, and the results were actually kind of dramatic. The colors on the untreated jacket are more washed out and ashy in person, and most distressed/antiqued fashion leather seems to be pretty dry and in need of conditioning. It soaked up a ton of Lexol and turned a deep, awesome copper color. The Obenauf's darkened it up considerably and also made it heavier and stiffer, which seemed pretty cool for a rugged design like this. Wouldn't recommend it on soft lamb jackets, but it's pretty cool on heavier stuff. Also, a hairdryer helps a lot. Really can't emphasize that enough.
Naturally, a few days after I finished this entire process (took about a week in total, if you count proofing time), I finally found one in my size on ebay. So, uh, let me know if you want to buy these. I'll probably put them up in B&S in a bit.
Anyway, here are some comparison shots for anyone who's been curious what this looks like. Sorry for the shitty lighting; my room doesn't get great light, so it's the best I've been able to manage.