Here's a basic procedure to clean and lubricate your chain:
1. Get a plastic spray bottle from the hardware store and fill with kerosene.
2. As you rotate the wheel, spray the kerosene on the chain. Concentrate mostly on the rollers.
3. Rotate the wheel for a minute or two to work the kerosene into the rollers. Remember with o/x-ring chains, you are mainly concerned with the rollers.
4. Take a clean dry rag and rub down the chain until clean. If the chain has excessive grime, use an old toothbrush or a Grunge Brush. Once done the chain should shine!
5. As you rotate the wheel, spray a quality chain lubricate (NOT WD-40) on the inside of the chain, specificaly the edge of the rollers. Note that not all lubricates are applied in the same fashion. Follow the instructions for application on the back of the product.
6. Apply a light coating of chain lubricant to the outside of the chain. Remember, it's all about the rollers, the outside only needs a protective film for rust protection.
7. Take another clean rag and moisten with kerosene. Rub down any areas of overspray.
8. Repeat the process every three or four rides. It's easier when you stay on top of it.
9. IMPORTANT: THE EDGES OF THE ROLLERS SHOULD ALWAYS APPEAR WET OR BE FREE OF GRIME. IF YOUR CHAIN LOOKS DRY, THEN YOUR CHAIN IS NOT PROPERLY LUBRICATED.
I'm partial to the following chain lubricants:
http://www.fuchslubricants.com/silkolene/maintain.htm
http://www.maximausa.com/products/ch...s/chainwax.asp
And for persons who don't know what a Grunge Brush is:
http://www.finishlineusa.com/products/grunge-brush.htm
Good luck.