You could also just take a rag with virtually any light lube on it and wipe the chain to get rid of the sticky waxy grease on the outside. WD-40 has mineral spirits for much of it's make up... IIRC. Though it's an expensive way to get mineral spirits, it's frequently more handy a the house than is straight mineral spirits since I no longer do a lot of painting with oil based paints.

If you are bound and determined to remove the waxy grease from the places on the chain you can't get too, then mineral spirits would also still be the choice for me. Water based stuff just seems like you'll be prone to starting rust in the places where you can't get the water out easily and those are the places where the lube really needs to be.

My own regimen is to not worry about it. I might clean off the outside. When the chain is new, I tend to lube it every three of four rides for a time just to help make sure the lube I prefer is getting to where it needs to be. My current chain is about 5000 miles and still no sign of wear I can measure. I don't put out a lot of power and since I'm using Di2 full synchronized shifting, I'm never in the Big/Big combo or Small/Small.