So I said I'd do a comparison when the dry moly spray got here. Well it never did. After about a month, a can of PCB lacquer turned up from Farnell! WTF?
Anyhow, I found this other stuff at the local nut and bolt shop, it appears to be MDS in an acrylic binder. I figure the binder isn't going to last more than a milisecond under the laser so I grabbed a can at AU$36

Sitting next to it is a can of CerMark LMM-6000. this is the stuff we use on our products and it comes in at the bargain price of only AU$165 per can.
The testI did 2 tests on each spray, both at max power, one at 20mm/s one at 60mm/s (which is the speed we normally mark at) on a 120W CO2 Laser.
The substrate was some 0.8mm stainless sheet.

The top to are the MDS spray, the bottom two the CerMark.
Nb, by the time of the last test (60mm/s on the CerMark) the steel was quite warped

So it didn't turn out quite as well as our production work.
So it looks like the statement "Dry Moly spray gives results that are almost as good as the expensive marking compound for a fraction of the price." holds true. Unfortunately for us we're always chasing a high quality mark so we'll be sticking to the CerMark...