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According to Silca the squeaking is mostly from the sideplates, and wax should still be present in the rollers doing its job. I think they covered this when talking about riders topping up their chainlube on rides like Unbound XL. The first time I used immersion wax on a brand new chain I just topped up with drip wax when it got noisy. After 3000kms the 0.25 chain checker thingy still didnt go in it.
I now rotate 2 chains every 600km or so. Immersion wax them at together at the end of the 1200km, drip wax in the meantime. Takes a good 30 minutes to do both chains.
My chain waxing experiment worked, kind of. The chain was squeaky after 180 miles in majorca, it was still shifting fine, but I'm assuming that's a sign that it needs redoing.
Give how little I ride my geared bikes I think it worth moving ever thing over to it. I've invested a whole £18 in a slow cover which I hope will make the process easier, at least I wont end up with a melted plastic bag and a mix of water and wax.
Being able to pack the bike up at the end of the trip without it being covered in oily crap was wonderful.