The problem with neatsfoot oil is that often, it's not pure neatsfoot oil, and that makes a huge difference to the life of the leather. Depending on where it was sourced, God knows what you're going to get in it.
I've seen a lot of damage done to leather goods by people using what they think is the right cleaners, including neatsfoot oil.
I prefer either Leather Honey or Weiman's products. I've had very good success with both of those products over the years. Lexol is also OK.