Grease flings off as easily as gear oil. Once it gets close to it's liquefication temperature it adheres just as good as gear oil. Same with chain wax, which I love.
I've used it all. Gear oil still wins for standard chains imho. You don't leave it dripping wet. Apply, wipe away excess or let drip off the excess. Barely makes a mess and still functions. The oil needs to get into the rollers a lot more than soak the outside plates.
Heating the chain and oil is what actually helps to draw it into the rollers and is a crucial part of applying any type of lube to a chain. There are old boys that do liquefied grease baths to chains in the same method I do the gear oil. Also works rather well at getting the grease inside the rollers. Just makes a bigger mess and the temps are hotter.
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