Well, Ian... you're gonna love this. On the chain I have now I followed your lead and never lubed it. It's now in it's second season with about 15,000 miles on it and I think I adjusted it twice. It does rust a bit, but I wipe it down with a cloth dampened with penetrating oil to keep it looking good. There is a sticky link or two but I got that with lubed chains too. All in all I'd have to say I'm a convert and probably won't lube ever again.
