We must be lucky, paraffin (kerosene to everyone else) is still available in bulk quite cheaply and does a good job.

We have used variously red diesel ("Cherryade") - does a good job and leaves a nice inhibiting film but stinks of course; AVTUR which is nearly the old TVO (tractor vaporising oil) and contains kerosene, petrol and diesel pretty smelly stuff also.

For larger stuff we do, believe it or not, use the hot pressure washer. It removes everything and given a good long blast on a warmish day (no problems in Oz here then), the item gets so hot it dries almost immediately, then just a rinse out with a de-watering fluid (WD40) or diesel even, if further strip down isn't going to be done immediately.

Great on old gearboxes and diffs etc., where the oil has become like treacle.

R.