I've said this before, dipping is just another version of poison. You are coating your weapon with a additional substance to get a effect. If they made a oil to coat your weapon so you can dip it probably be more in line with poison even more.
This please, iron doesn't burn, other substances do. Make us use cheap substances like oil on our weapons, then we can ignite them even from a candle. No oil, no dipping, make it limited by the amount of oil we have.
Bows shouldn't burn, tips of arrows should, I know we don't have arrows, but dipping the bow should put the effect on the arrows.