Ironically have never waxed a chain, can you post some details on what it accomplishes and tips on doing so? I assume it's for protection, but please illuminate me...
Free watts!!!
Using a paraffin wax instead of lube reduces friction and also keeps everything nice and clean. I've been using it on road and CX bikes for several years.
A friend of mine started it as a little side business while between jobs a few years back.
http://www.waxmaxcycle.com/index.html
Here's the details for my setup.
I have two chains for each bike. Each wax treatment lasts 250-300 miles. While one chain is on the bike, I have time to clean up and rewax the other chain. When the current chain is ready to come off, it's a quick swap to put the other chain on. Muddy CX races shorten the life of the wax, but such is life.
Another friend of mine that rides a lot more than me (5-8k miles/year) has four chains in rotation.....
Process:
To start with an old chain, simply mail your chain to Andy, he will clean it in an ultrasonic bath, check for stretch and twist, apply the wax and return it to you ready for use.
To start with a new chain, simply purchase from his site, and go.
After the first cycle, I re-wax it myself. I simply clean the chain with the standard stuff, then wash it off in the sink to remove any cleaner residue, dry it off, and drop it in the hot wax for 12-15 minutes per side. There's a starter kit available, which is an electric skillet and a chunk of wax. I use a bent coat hanger to handle the chain in the wax. You need to agitate the chain while in the wax so it gets in all the pins and rollers. After it comes out and dries up, you do need to manually bend each link prior to storage or installation.
It sounds like a lot of work, but it's not too bad. Since the wax doesn't pick up any road grime or dirt, your entire drivetrain stays clean. Never get crap on your hands while changing a wheel, or making a repair/adjustment. The chains last longer. The cassette lasts longer.
Pro Tip - preheat the chain before dropping it in the wax, especially if right after washing, to eliminate any moisture bubbles and to speed the process. (Old toaster oven)