Great product, strips grease and grime pretty quickly. It does contain petroleum distillates, which are diluted enough to not be flammable and not be caustic to your drivetrain/paint job. Does a great job of stripping wax too! That being said, do not spray it on your chain if you just waxed it. It will break down the wax and remove it in a few minutes. I recommend removing your wheel / cassette beforehand, and be sure you thoroughly rinse down the areas you've sprayed the cleaner. It will leave an oily residue if you don't. Also, wear gloves - even though it's biodegradable it's not great for your skin.
I've been waxing chains for a while and there's nothing like it for a clean smooth running chain. The drawbacks are needing the equipment and taking the time to do it properly. Reducing the number of times you need to rewax a chain is an obvious advantage. It definitely increases the longevity, but is it 3X? Perhaps not but that might dependent on your riding (Gravel versus Road, fair weather only or lots of riding in rain). I wax multiple chains at a time so I can put a fresh chain on the bike and set the old one aside until they both need fresh wax, that alone reduces the number of times I have to cook the chains by 1/2. The Endurance Chip means I'll need to do that even less.
This stuff is really strong. It does work as you'd expect it to.
I have two minor gripes, though. First, it will leave scratches on whatever part you spread it on (e.g., the seat post) everytime you slide the part in and out. The scratched side is typically hidden anyway, so it doesn't usually matter too much, but it's something to be wary of.
Secondly, I wish this compound was available in a smaller-sized tube at a lower price, because I think it'll end up being a lifetime supply for me based on my rare, small uses of it.
I've been waxing chains for years, long before wax blends became mainstream, using a basic second-hand slow cooker that worked surprisingly well. After becoming a fan of Silca's Secret Chain Hot Melt Wax, I decided to try their full waxing system.
While the price is hard to justify - especially when a cheap slow cooker does 95% of the job - the one standout feature that makes a difference is the temperature control. The Silca pot maintains a noticeably lower, more consistent temperature, resulting in thicker wax coverage that doesn't drip off as quickly when the chain is hung to dry.
That said, the pot is smaller than expected, and the included plastic lid feels cheap (thankfully, my old glass lid fits perfectly). In the end, this is a luxury item: unnecessary, but nice to have.
If you're particular about your setup and have the budget, the Silca system is worth considering for its control and consistency. Otherwise, a basic slow cooker will serve you just fine.