I am with Rob, for a good cleaning, compressed air is the way to go. Before each ride, I use a paint brush on the drive train to get the dust off...lube and go. I hate wax based chain lubes and prefer the light oil lubes like Pro Link. Using Pro Link I never have to use a degreaser to get my bike clean.
I think using a degeaser on a bike is a bad idea, it can get into bottom bracket, derailuer, and other components and degrade the grease in the bearings. If you need to use a degreaser to get you chain clean, get a power link and take the chain off the bike. Put the chain and degreaser in a plastic coke bottle, soak overnight, shake the bottle, dry the chain, and lube the chain.
I don't like water on bike either, it mostly gets wet from water crossings, even that I try to avoid. I don't spend money on expensive parts to waste them by improper care/abuse. Water is not a bikes friend. The first place I start having problems with water is with hydro brakes, the pistons start getting corroded/rusty, then I start getting brake pads rubbing.