tetsuryuu said:I can't say I've ever heard of doing this... I used to use graphite powder on model cars to make the wheels spin better, and I don't think you'd hurt anything since the particle size is so small. But I'm also not convinced you'd see any benefit. Check your local hobby shop for the graphite, and let us know how it works out!
i've the same mindset as tetsuryuu- graphite works wonders if you've something VERY delicate (light) and friction is the biggest thing to overcome. like the above mentioned model cars- the're usually very light, gravity is usually the only accelerating force, and they mostly all weigh the same- thus the one to reduce friction the greatest wins.
however, in this particular situation- graphite is used because wet libricants induce surface tension and actually create too much drag. oil slows them down and wax would just bind the wheels.
with a bicycle chain- i think any benefit gained from the graphite would be lost in the stickiness of the wax. even light grease would be better than wax...
also think about maintanence. when you go to clean it- wax/grease is twice as hard to get off as oil.
maybe these reasons are why nobody waxes?
my $.02