OK
I use Phil's Tenacious all the time on all of my drivetrains. The secret is to thin it out with a little WD-40 on a rag.
1) Apply Phil's to each link
2) Run through your drivetrain
3) Wipe off excess with a shop towel
4) Put WD-40 on a rag, wipe drivetrain. Keep doing it until the Phils stops making those long gooey strings between your cog/chainring/chain.
5) Profit!
This lube outlasts most others that I've tried.