I jack the bike, remove the rear peg-hanger, mark the chain with a dab of liquid teflon and carefully spray kerosene from a solvent approved bottle (ie. platic WD-40 bottle available at Home Depot) at about 10" intervals. I hit each interval with a grunge brush and rag before rotating to the next section. I carefully bend the spray lube straw and apply lube sectionally patting the chain lightly with a rag to prevent excess drippage.
I've being doing this every 500 miles or when conditions warrant (stuck in a down-pour) since I threw the chain on my '73 Commando due to neglect on my part.
For me it's a two-beer zen thing and it coincides with wheel, spoke, hub, sprocket cleaning day.
Regards from the Middle East,
Tom