I was cleaning my bike today - took almost everything off, hosed it down, brushed the dirt off... took off the chain and used Raiyn's method to clean that... took off the derrailuer wheels and cleaned/lubed them since they were spinning like crap, etc.
I'll clean the rims and pads off really well, and get the glazed gunk off. I wanted to buy a new bike, but my wallet likes this method a lot more.