This extract from
Chain Maintenance is a good guide, in fact a good site for all bike DIY stuff. The bit about the new chain and factory lube is spot on, as is the "don’t spray and pray" brigade advice and I can personally recommend the SRAM POWERLINK it is just magic, chain removal in 2 seconds flat and never had one come undone while riding.
Oiling Chains
One of the great controversies of chain maintenance is whether you should oil a chain or not. The downside of oiling a chain is that the oil may carry grit into the interior of the chain, and that this grit-mixed-with-oil will act as grinding compound, causing accelerated wear. Many experts whose judgement I highly respect hold this opinion, but I do not believe that this is always the case. I have no doubt that this "grinding-compound" effect can occur, but the severity of the risk depends upon the sort of dust/soil prevalent in a given area, and, particularly, the oiling technique used.
Many cyclists oil their chains by spraying, usually aiming the spray can at the rear of the derailer cage, because this reduces the risk of overspray getting on their rims or tires. In my opinion, spray lubricants should not be used on bicycle chains, because they get too much oil where you don't need it and/or too little where you do.
Most of the schmutz that contaminates a chain is stuff that is thrown up by the front tire. This lands on the outer circumference of the chain. For this reason, you should always oil a chain on the inner circumference, the side that faces the sprockets. This decreases the tendency of the oil to carry crud into the interior bearing surfaces of the chain. The best way to apply the oil is with a drip-type oil can, along the top of the lower run of the chain. This applies the oil to the cleanest part of the chain.
I just run the pedals backwards while applying a line of oil down the rollers. It takes 15 or 20 seconds to oil a chain this way. In the case of old-fashioned bushing-type chains, I usually run the oil along the left side only, in hope that the clean oil will be able to flush through the bushings from left to right. I have used many different oils, my favourite is Phil Wood Tenacious oil.
Motorcycle-type Chain Lubes
The problem with lubricating conventional chains is that thick lubricants can't penetrate into the inaccessible crannies where they are really needed, but thin lubricants don't last long enough. There is a family of popular chain lubricants that deal with this by mixing a thick oil-type lubricant with a volatile solvent. The resulting mix is thin enough to get some penetration by capillary action, then the solvent evaporates and leaves the thick oil behind. This type of lube is easy to apply, and is very popular for that reason.
Waxing Chains
An alternative approach to chain lubrication is to immerse the chain in hot wax. This is a variation on the oil/solvent approach. The hot wax is of a thin enough consistency that it can theoretically penetrate into the private parts of the chain, then when it cools off, you have a nice thick lubricant in place where it can do the most good. The major advantage to this approach is that, once cooled off, the wax is not sticky, and doesn't attract dirt to the outside of the chain as readily. Downsides of the wax approach include the fact that it is a great deal of trouble, and that wax is probably not as good a lubricant as oil or grease.
Factory Lube
New chains come pre-lubricated with a grease-type lubricant which has been installed at the factory. This is an excellent lubricant, and has been made to permeate all of the internal interstices in the chain.
This factory lube is superior to any lube that you can apply after the fact.
Some people make the bad mistake of deliberately removing this superior lubricant. Don't do this!
The factory lubricant all by itself is usually good for several hundred miles of service if the bike is not ridden in wet or dusty conditions. It is best not to apply any sort of lube to a new chain until it is clearly needed, because any wet lube you can apply will dilute the factory lube.
Cleaning Chains
There are several ways that people try to clean their chains, none of them very satisfactory. Two of these ways may actually work.
The traditional way to clean a bicycle chain is to remove it from the bike, then soak and scrub it in solvent. This is a problem with newer chains, however. Improved sprocket design, such as Shimano's "Hyperglide" system have made it possible to shift under full power, which is very stressful to chains. (Older derailer systems with plain sprockets required the rider to ease up on the pedals while shifting.)
To withstand these high stresses, modern chains have rivets that are tighter fitting into the chain plates. The new rivets are difficult to remove and reinstall without damaging either the rivet or the side plate.
If you wish to make a habit of cleaning your chain off-the-bike, the best approach is to buy an aftermarket master link, such as the Craig Super Link or SRAM PowerLink . These permit removal and re-installation of the chain without tools. The PowerLink is standard equipment supplied with SRAM chains, but it also works on other chains of the same width.
I used to use a parts cleaning tank and a toothbrush to clean chains, but Zaven Ghazarian, an excellent mechanic I used to work with came up with a better system: drop the chain into a plastic Coke bottle with a couple of ounces of un-diluted citrus degreaser, cap it, and shake thoroughly. Fish the chain out with a spoke, rinse in water, and you are all set! (I am told that Pepsi bottles also work, and are easier to remove the chain from, because they have a wider mouth...but I'm a Coke guy, not a Pepsi guy.)
The other major way to clean chains is with an on-the-bike cleaning machine. These are boxes which clip over the lower run of chain. They contain brushes and rollers that flex the chain and run it through a bath of solvent.
The off-the-bike approach has the advantage that it usually uses more solvent than will fit into an on-the-bike cleaning machine. Thus, it can dilute away more of the scuzz from the chain.
The on-the-bike system has the advantage that the cleaning machine flexes the links and spins the rollers. This scrubbing action may do a better job of cleaning the innards.
