I've only been cycling for 35 years, and I still haven't figured out the best way to clean my bike. I don't think I have an obsessive compulsive bone in my body, but I try to keep the bike reasonably respectable. I am also a bit of a cheap busturd, so I like to keep my moving parts from wearing out too soon.
Anyway of late, I'm using less and less harsh chemicals and more and more just wiping everything down pretty carefully, as per an article I read by Lennard Zinn (I think). Then I polish up the frame (sometimes) with something like Pedro's Bike Lust and lube the drive train.
What does everyone else do?