I've been using Phil's Tenacious Oil, a bicycle oil, for several years now after it was recommended on the Vinyl Asylum. Used it on my Scout, and have been using it on my Scoutmaster with excellent results.
Here's a link:
http://www.philwood.com/Phil%20%20Tenacious%20Oil.htm
Here's a link:
http://www.philwood.com/Phil%20%20Tenacious%20Oil.htm