That sounds like the fountain of youth!
While silicone might have immediate "feel good" results, the long term consequence is actually damaging IMHO. I use 303 on my new rubber parts but primarily for the UV protection. It contains 0% silicone which is touted by the premium brands. The cheap stuff is loaded with silicone like Armorall and others.
Rubber is a Thermoset which means that it vulcanizes or cures with heat and is an irreversible process. Thermoplastic melts with heat and doesn't cure and therefore is reversible. It might be possible to do the plasticizing technique with a thermoplastic, but I highly doubt it will have much effect on a Thermoset.