Sounds exactly right to me. Consider - Once you've got it "wet with CLP", put it back together and work the slide, trigger etc a bunch of times. That will distribute the oil and work it into the microscopic pores. Then wipe if off if you like, as you are doing.
I think there's really only three problems with leaving a gun wet with oil -
1 - The oil could seep into primers and deactivate them
2 - The oil could attract dirt and grit
3 - The oil (with or without dirt and grit) could come off on your clothes
Your vehicle's internal combustion engine, ball joints, wheel bearings etc are all "wet with oil" (lube, grease etc). Guns aren't much different. Film of lube between metal (or plastic) parts reduces friction, carries dirt away (or suspends it) and transfers heat, the by product of all friction devices.
Don't fret too much over cleaning and lubing. Keep it functionally clean and reasonably lubed. It won't explode if you're not using the latest and greatest lubricant vs 3 in 1 oil.
Sgt Lumpy - n0eq