I don't really consider this frozen stuff real chipped beef per name. The proper way to cook it is use a very lean hamburger and you cook the meat first then pour flour over the meat and stir it, adding the milk just as making gravy. If the amount of flour is correct it turns out really white and fluffy. The image on that package is enough to turn me off because it just don't look natural. One of my favorite dishes was my Grandmothers fried white corn in white gravy but the gravy is always a bit brown. It is really good but not if you use a sweet corn, it takes the flavor away. Old folks never threw anything edible away. There was always two a lard can on the stove, it had red meat cooking used grease, like bacon or ham or beef. The breakfast meals usually had fresh made biscuits or left over from supper and morning meal gravy was made using a dash of bacon grease and even a little of the morning coffee was used. Always cooked in a heavy cast iron skillet. I am pretty sure all those old recipes are not written but I would think they came from the depression days where people made a lot of change in their eating habits due to not having money to spend on the simplest of items especially food.
My mother and grandmother cooked like that with the can of bacon grease always handy and biscuits or cornbread with every meal. My mother never used hamburger meat for SOS; she used "chipped beef" which is now called dried beef in the little glass jars... A similar dish is sausage gravy which is crumbled sausage cooked, then a white gravy made with the drippings and served over biscuits.
Similar, but different, was what they call an open-faced roast beef sandwich. My mom always ordered that when I was a kid and we ate at Scott's (like Woolworth) lunch counter. It still didn't look that great to me. Can't remember what I ate.
I keep a can on my stove even today. It is for fats. I don't actually use the grease for cooking. I fry in fresh bacon grease. Just use a strip for the grease. But I keep the can and pour off excess or skimmed beef or pork dishes into it. Eventually I throw it away. Probably saves the plumbing. For a while my mom made soap with the contents of her grease can to send to the poor people somewhere. Not sure if they appreciated it but it was made with love.
I have a small ceramic bowl of bacon grease in my refrigerator. I use it to season stuff occasionally but I don't fry with it. I have a "grease can" with a strainer that I use to save oil, like for frying potatoes. I use oil two or three times before discarding.
I keep a small can of Crisco for making pie crusts, etc. It is not lard but is "vegetable shortening." Still looks the same but probably isn't.
I think many of us had grandmother's or mothers who cooked with bacon grease. I still do depending on what it is. Bacon grease makes many things tasty much better.