Unless something has changed since the mid-1990s, Armor All is silicone with an emulsifier to thin it. They bought the silicone from Dow Corning (I used to work there as a student, and Dad retired from there after 35 years). It won't hurt anything, but there are probably better products. I used it on the door gaskets on my 1982 Chevrolet S-10 truck until I replaced them in 2007. They were worn/mashed flat but weren't deteriorating. Same with the interior plastics. It does make things greasy, so don't use it on steering wheels, or at least thoroughly wipe it clean afterwards.
I've tried a few products on interior plastics but haven't settled on anything.
I did try Nextzett Gummi Pflege Stift on the weather stripping. It comes in a small bottle with an applicator pad. I don't know if it's any better than anything else but it was easy enough to apply. The bottle looks a whole lot like the product Rusty Boltz suggested.
GM suggests DuPont Krytox for weather seals but it is not cheap by any means -- a quick check says that a 0.5 ounce tube on Amazon is around $30. I haven't tried it.
2006 Solstice, Mysterious 5-speed