This is what Bill Miller Engineering thinks about the subject:

WARNING
EXTREME DANGER
Do not use WD40,automatic trans fluid,kerosene, or any other
lightweight rust preventatives for engine assembly.
These are not lubricants.
These products will ruin the cylinder walls, they will ruin the face of the piston rings, and they will ruin the skirts on the pistons.

USE ONLY HIGH QUALITY PETROLEUM BASED ENGINE OIL(NO SYNTHETICS).Apply engine oil to the piston skirts, cylinder walls. pin holes and pins, and a light film on both sides of the piston rings

I have this actual notice that came with some pistons around somewhere but I found this from a post Moparts member mafo had posted earlier.