I'm not a fan of 3-in-1 or WD-40. given the choice of lubricants, I'll use anything silicone based (I've found this stuff called AD-3000, it's not an aerosol but comes in a pump can and it's great, biodegradable and everything) and lithium grease as a heavy duty, long term lube (I wouldn't use it on a bike, but anything else 'outdoors' will benefit from it). But the overriding theme is: if it ain't broke, don't fix it. Over lubing will cause many problems, the least of which being that you'll literally be dripping money off your bike.