I'd have thought too much lubricant will actually attract dust and debris BTFB.
Personally, i spray the chain liberally with WD or similar and wrap round a cloth round the chain while turning the cranks. This brings out a lot of crud.
Luckily i work in a workshop, so have everything and more to hand...this is what i do...
Once a month (roughly), chain off, spray with penetrant them blast thoroughly with a high pressure airline.
You wouldnt believe how much crud comes out of a chain.
You wouldnt want to do this on your drive, you have a huge grey / black mark from the oil / crud.
After reading others posts here, ive taken to regular but light application of WD or similar as a lubricant. Its been working very well, and the chain does stay cleaner.
At the end of the winter, i remove the chain and soak in a tub of industrial cleaner, bow out with an airline, apply WD, blow out again, then apply WD again. Even this only takes 15 minutes, but the chain looks awesome...like new.