I have been using chain wax spray. My general zen of chain maintenance is to do the following:
1. Ride for a bit, get things good and warm (actually, just an excuse to ride, really)
2. Spray on some WD40 and wipe it off with shop towel while spinning the rear wheel.
2. Spray on some WD40 and use a brush to get it cleaned off of road grime, wipe off WD40 with towel.
3. Spray on the chain wax, but I don't wipe it off. I spray under the swing arm. Spin the wheel for a bit.
4. After all that, I usually end up letting the bike sit overnight, as the maintenance I do at the end of a day, rather than the beginning.
I will do this after longer trips (1000+ mile trips) or after a couple weeks or so of commuting and general riding about town.
This past year, I bought my bike new, and the original chain (not the best, with a lifespan of about 10,000 miles) finally gave up the ghost for me and I replaced it at just over 12,000 miles. I had to adjust it 3 times in as many weeks, and the last time I had no more play to adjust with the screws. I now have a new chain and with that I completed my first real maintenance as a non-mechanic. Oil change coming in about 4,000 miles.