Well, each to their own, I guess. I know chains are relatively cheap but they're probably the component that takes the most abuse, especially if you're riding in inclement weather. I feel it's worth spending a little extra for a decent lubricant that won't get washed off at the first sign of rain or attract dirt in dry conditions. My current favourite is Fenwicks Professional chain lube for the road bike; I'm still trying to find the best option for the mountain bike as I think the Fenwicks will attract too much dust in the dry conditions we're having at the moment.