So I was rebuilding an old road bike from the 80's and my uncle (who rides motorcycles and bicycles) pass on the tip to me for cleaning off oil and road grime from the drivetrain.  Kerosene!!!!  I tried it by soaking an old chain in a pan of kerosene and wiping it down with a small paint brush, within 5 minutes the chain looked brand new!  I couldnot believe it.

I looked online for opinions on using Kerosene and some people had concerns that it might eat away brake pads or tires, but not really the case.  That doesn't mean submerge your whole bike into a kerosene bath, but some overspray will not hurt your bike.

I also saw that WD-40 is also a great degreaser.  It is put since WD-40 is also a lubircant it does leave a greasy residue which I washed off with water and dish soap, cus WD-40 is also known for attracting dirt.

So I would recomend Kerosene.  If you want to be enviromentally friendly pour some in a jar (like a Mason jar), clean your parts and then filter the used kerosene into another jar using an old pair of nylons. 

And oh yea, once clean rinse the kerosene off, otherwise if you just let it air dry you will smell up the kitchen and get yelled at by your spouse.

Just remember you pay a lot of money for your bikes and a bit of preventive maintenance can go along way.

You might also get yelled at when she puts on the nylons.

I never said I used 'her' nylons. lol

CAUTION: WD-40 is a "cleaner-degreaser".  This is right from the WD-40 web site (http://www.wd40.com/faqs/).  It is designed to displace water.  Any "degreaser" should be understood as something that breaks down lubricants.  WD-40 does leave a light film that INITIALLY will provide some lubrication, but it is NOT a good lubricant for bikes.  But it's excellent as a way to get all kinds of gunk to go away.

Always provide a proper lubricant to the parts you are setting up.  As a bike mechanic, we use chain lube for chains (wax based or oil based, your choice), light lithium grease for keeping bearings and fittings like seat posts from binding, and I have had excellent results using mountain bike shock lubricant for cables.

And be careful to clearn what you are lubricating first, and not mix lubricant types.  Mixing different lubes can cause the creation of acids that will increase wear and tear!

 Thanks Mike.

I've been using the red Absolutely The Best chainlube for both my chain and cables.  It's very light, but does seem to have some sort of carrier to it the must evaporate after a while.  

Have you tried this with cables?  Or, maybe more importantly, which type of shock oil do you recommend.  

Also, Kerosene is great stuff, however, it does emit VOCs.  Using a citrus solvent is better for the environment.

I use Slick Honey Bike Grease, mostly because it's what I use on my moutain bike shocks and it's worked great.  I haven't tried any others, so there may be better things out there.