For non-moving assemblies such as plane irons I use a rag moistened with 3 in 1 or CRC 5-56. For moving portions of tools I use Tri-Flow. It is teflon-based synthetic and performs very well under all conditions. Kinda pricey, but well worth it, in my opinion.
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There ain't nothin' more powerful than the odor of mendacity -Big Daddy
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