I agree that pure paraffin doesn't work in extreme cold. But what if it's mixed with some thinner oils? The mix, that I made a few days ago, worked in temperatures down to -15C (0 F) quite well.
Why do you think that wax doesn't work well under heavy load (I assume that you mean high torque here)? I'm just curious. I was never good at chemistry, but intuitively it feels that thicker wax will work better under high torque than thin lubes.
I've done a bit of research on the NSF lube. The application instructions make the impression that there's some magic involved. How does dropping 12 drops in random places on the chain make all the rollers lubricated?
I'm skeptical that this method will yield in a well lubricated chain. But I seen that all the people who tries this lube love it. So I might try it.
Where do you buy this lube? Looks like it's not that easy to find.
FYI if starting from a clean chain 1 drop per link after testing my zero friction found 12 drops inadequate
