I do the wax method for the cleanliness. The chain stays super clean, you don't have to wipe it down etc. I read about it on some forum and tweaked the procedure a bit.
These are the ingredients:
- old pot or pan (this one has old wax/graphite mixture in it from previous use)
- graphite powder from hardware store
- heating candle
- pliers to take chain out of the wax
- a stick to stir the chain a bit
- paper towel to wipe wax off the chain when done
Coil the chain flat in the pot, sprinkle graphite over it.
Heat on low/medium until the old wax melts.
Turn down to low, press the candle on all links to carry the graphite within the bushings etc (half a candle is more than enough for a chain)
Stir for maybe 1 minute with the stick so the mixture penetrates everywhere. Take pan off the heat.
Let cool a bit, but remove chain while the wax is still liquid, or else it will encase the chain.
As you hold the chain with the pliers, wipe down the exterior with the folded paper towel (careful, it's still hot), the wax serves no purpose there.
Coil chain, let it cool down, put in small ziploc bag.
I do 3-4 chains at a time so it lasts a bit.
It sounds more complicated than it is. The whole thing takes maybe 30 mins for the 3-4 chains (the longest part is waiting for the wax to cool down).
In the summer when it's dry you get 600 km or more out of a chain, but if it's wet much less, water washes the wax off.
The chains and cassettes seem to last forever.