You certainly won't get any consensus on the correct lube or interval but I think most will agree that wiping off the excess is good. FWIW, I use homebrew and wipe the chain until it's clean and shiny. I relube when it squeaks or if I get caught in the rain or if I get a wild hair. On my last 500 mi trip in Sept. I may have lubed the chain once, or maybe not. Again, clean off that excess. It's not doing any good on the exterior of the chain other than ******ing unsightly rust and it just needs a film for that.