If you apply 2 small drops of Dr. Duck's Axe Wax and String lube on a cloth, and then polish whole guitar, strings and all, it will look awesome. The secret to the Dr's polish is to use SPARINGLY. If the guitar/bass feels "greasy", you used too much and you have to keep wiping down til you get it off. Used correctly, it is the best I've used.
I just talked to the good Dr. today, and he has put some in the hands of CF Martin & Co. There are some VERY high profile players using it as string lube before concerts also.
Check him out, he has an ebay store as well
www.ducksdeluxe.com
On ebay - Duck's Guitar Supply Bonanza.
I have also heard some very good things, about his strings!
He is Rickenbacker challenged though. I asked him about Ricky guitars, and he said he thought the pickups were weak! He plays a Strat with a humbucker at the bridge and a Tele with a B bender!
Hope you don't mind the shameless plug, but he is a good friend.