"Chain lube? What is this chain lube you speak of?" This was an actual quote from a customer of ours. I've also seen used motor oil and axle grease used as lube. No bueno.
It really doesn't matter which chain lube you use just as long as you do the final step of wiping off the excess as Mitch has mentioned. Of course, you'll have to clean it first, when needed. Cleaning should also include the pulley wheels, cassette and chain ring or rings.
As far as bike saddles. You find one that fits your a$$ bones and you buy three of them, because they'll change it next season.