How do you protect components in mildly to moderately gritty conditions?

I am convinced that at least some of the guys who used to dip their chains in hot wax actually just wanted to keep grit out, and probably oiled the chains as well.

What do you do about components like derailleurs and brakes? Does anyone maybe try to get some wax in there? How about white lithium aerosol applied to each pivot, so grit can't get in?