You wouldn't believe the number of people that use Lemon Pledge on their bikes stem to stern. Yeah, Pledge shines chrome. It doesn't last, attracts grunge and frequently appears smeary in direct sun, IME. Add to the fact that many chrome bits get incredibly hot, whatever you put on it burns off before you turn a wheel. It's generally favored by those with garage queens who trailer their bikes to rallies so they can stand around with Harley-Davidson logos emblazoned from head to toe looking like they rode somewhere. Those of us that actually ride 'em 20 - 30,000 miles a year prefer products designed specifically to polish and protect.
As for the old school thread... a lot of old timers used to give their vehicles a kerosene bath before winter. It removes tar and road crap and the prevailing wisdom is the petroleum gets in the nooks and crannies and lingers and prevents rust. Might be something to this as the guys that swore by it always drove old iron with no rust in the days before anti corrosion manufacturing techniques prevailed. They were also the guys who sprayed their undercarriage with used oil and then drove down dirt roads as a homemade rustproofing. You could smell them driving towards you a block away. ::::shrug::: Whatever works for you...
TL