Loooong time ago, I used to treat my chains with oldfashioned chainwax (Castrol), but only when in the mood. It was rather time consuming. Using a spare chain you'd pull the one on the bike. After cleaning with some kerosene, I would let it sink in the warm and fluid chainwax. This was the nice part. Blub, blub, blub, you felt like being one of them medieval alchemists in search of gold. After ten minutes you'd hang the chain and let the excess drip of. The stuff hardened immediately. It was the best and I believe it contained graphite. Chain became real hot this way and not the kind of luke warm after riding. Ï'm afraid it's no longer available. Downside was: much work and messy. Very best IMO is a closed chain housing. Dutchman Henk Besselink claims to have covered 230.000 kms+ on his CB 750 with the same chain in a Tyrra casing, with only one adjustment so far. Another made in Germany was the "Becker Fettkasten". In such an oilbath chains lived forever. I don't know why they've disappeared. Maybe they leaked. If they were still around, I definitely would buy one. I believe MZ motorcycles still have enclosed drivechains. Sensible bikes, them MZ's.
A local motorcycle parts shop here (the owner was a friend of mine) back in the 1980s sold an enclosed chain housing for the CB750 (which was THE bike at the time, by the thousands). It was a diecast housing that bolted onto the swingarm and enclosed the rear sprocket almost completely, right up to the wheel hub. There were 2 bellows, upper and lower, mounted to the front of this casting for the chain path, and another casting that replaced the little 2-screw lift-out cover on the 750 engine, over the sprocket. This portion fit over the front sprocket and enclosed it almost completely. It was complex and added 6 pounds to the bike overall, but the riders who installed them and added the recommend oil (I think it was 90w SAE gear lube, like for differentials on cars) with a broken-in chain could ride an entire season without having to adjust their chains.
By the time I decided to buy one, they weren't available anymore!
With all chain lubes, the most important features I have seen kind of boil down to 2 things that always work well:
1. It MUST contain moly.
2. The ones that spray on wet and then 'dry' to a greasy surface far outlast those that don't, and these also penetrate the side plate-roller clearance to oil the pins while they are thin and wet. This is vital to good performance. They are illegal in California, though, because of their ridiculous VOC laws.
I don't think that the old Chain-Kote spray is available anymore (I still have 2 cans of the case I bought in 1990), but that was (is?) the very best of the best, in my experience. It goes on wet, soaks into the pins and sideplates in about 45 seconds (keep spinning the rear wheel while it does) and then dries to an almost grease-like consistency, resisting fling-off until 80 MPH or so with the 48T rear sprocket on the 750. On the smaller Fours it doesn't fling off at all because of their smaller sprocket sizes.