Here I found a few nuggets of wisdom from the master:
Originally Posted by Sheldon Brown
One of the great controversies of chain maintenance is whether you should oil a chain or not. The downside of oiling a chain is that the oil may carry grit into the interior of the chain, and that this grit-mixed-with-oil will act as grinding compound, causing accelerated wear. Many experts whose judgement I highly respect hold this opinion, but I do not believe that this is always the case.
I want to hear from these experts because, obviously, Sheldon and I are of different religions in this regard.