ATF and acetone does work well, I keep some mixed up in an old-school oil can. You’ve just got to shake it up before you use it, the acetone and ATF seem to separate. I mix it in a 1:1 ratio. It’s certainly cheap anyway.
It might be in my head, but I actually think it does work a bit better than PB Blaster or Liquid Wrench. The problem with it is that it’s not as easy to spray all over tight spots, but I suppose putting it into a spray bottle would solve that.