Back in May, my paraffin-lubed chain got soaked while on the trunk rack in a rainstorm. I was sure that it would need re-lubing right away, and posted about it here:
Paraffin Lubed Chain Got Wet
It's now been 1,214 miles since that soaking, and the chain is still fine. I haven't heard any noise, and it feels fine. Stainless steel chain is part of the trick here, I guess.