When you buy lube you have to be rational, are you racing professionally? then get some of that real expensive baked on ceramic lube, but if you're that type of racer your team already has that for you, but the really expensive super duper low friction lube that cost $100 to apply is a waste of money, you never save enough time on a ride to make it worthwhile, nor make the chain last forever either.
I use to do the hot wax stuff, and personally, I didn't like it, it didn't last on the chain long, the chain life was shorter than with oils, nor does wax prevent rust. Wax does not adhere to metal well at all, it has gaps and those gaps traps water and that's where rust will first occur. After every rain ride, you have to redo the hot wax, a time-consuming messy event. And liquid wax in a bottle is even worse, that crap holds up for about 45 to 65 miles then you have to reapply it. The problem with using any wet lube like automotive oil, is that dirt and bugs are attracted to it like a powerful magnet, and dirt will grind metal off the chain, and that metal will also stick to the oil and compound the grinding away at your chain and gears.
I have yet to find the golden angel of wax. The best I've found so far is one of two, and I haven't figured out if the one is better than the other. The first lube is Rock n Roll Ultimate Dry, this stuff is a bit weird, you have to literally squirt it on the chain while pedaling backward, seems like a big waste of lube but the lube does work really well. What really struck me about this lube is that after a very strong downpour the lube was still intact, with no noise from the chain whatsoever, which is really strange for a dry lube. Just follow the directions and it's good to go for a long time between applications, I can go for at least 300 miles between re-lubing. I use this stuff on my road bike and commuter bike. On my road bike the original chain has around 8,000 miles on it and after measuring it the gauge showed 50% wear.
The other lube I just started using on my touring bike is Dumonde Tech Lite, I applied it according to the directions and then reapplied it, then reapplied it after about 50 miles, since then I haven't reapplied it all, it's been over 800 miles and still no noise from the chain, and the chain stays clean, a lot cleaner than the Rock N Roll chains. I'm waiting to see how long my chain will last, but the last measurement I did at the 800-mile mark showed no wear. Time will tell about this stuff, but so far I really like it, without the chain wear factored in it would be my favorite lube.