+1 on the WD-40 I use it on just about everyting that moves. (pegs, sidestand ect...)
and +1 on the Honda HP, the big can has lasted me over a year so far.
I've been told to clean my chain with only kerosene, but WD-40 works great and it a lot easier to work with. This reminds me that I am overdue to clean my chain, well my whole bike actually needs a good scrubbin'...
Honda CBR1100XX Blackbird
An intelligent man is sometimes forced to be drunk to spend time with his fools. - Ernest Hemingway
Another +1 for HP lube and kerosene to clean. I'm sure WD-40 works good too. Also, WD-40 works great on wheels(especially if they are black). Leaves a nice shine and a film so the fling from the chain doesn't stick as bad.
611 to clean. I then use Motul Chain Lube. Spray the lube towards the botton of the rear sprocket and rotate the tire backwards. It lets the lube work its way down. I let it sit for 10-15 min before riding and havent had any flinging problems.