I've been riding my bike all winter, and today did a teardown to clean all the crap off it, while at the same time replacing old parts. Now the bike is shiny clean in all her little nooks and crannies, and is ready to rock with new parts.

WD-40 is not in my cleaning arsenal.

Mobil 1 0W-20 is a good wet lube, lasts for days. I also have access to a spray cleaner/polish for stainless, that cleans my chain and gears wonderfully, and works for a couple days as a light lube, too.

You don't have to break the bank, but settling for WD-40... you might as well ride a Wal-Mart bike.