I have had great success with homebrew which is 1 part oil and three parts mineral spirits... after running my bike through the winter using only this it was not showing any measurable wear and was clean and shiny despite the wet conditions we are having.

The type of lube you use should be based on your individual climates and riding conditions... some popular lubes like Finish Line and Tri Flow are terrible here due to the high amount of clay dust as the city is built on.