"I may not be fast, but I do look good and so does my bike". That's my motto and to keep the bike looking good all the time, my routine has worked pretty good. In fact, Jose Nunez has liked it so much, his bike spends quality time during the season at my house getting, "pretty".
It all begins with a bucket of warm water and dish soap, a couple of brushes, garden hose, some rags (old t-shirts), degreaser (Performance brand does it for me.) and three or four paper towls. Wash the bike with low pressure from the hose. Although my dad, an avid bike mechanic advises against it, over the years it has worked well. Degrease the chain and then brush it really good. Rinse. Dry the frame with a clean rag and use a different one for the chain. Pedro's Bike Lust goes next on the frame for that shiny look. Once the chain has dried, use the papertowls to get it as clean as possible. Lube and finally with another clean rag, give the chain a few last wipes.
The above procedure is done once or twice a month, depending on how much rain we get. During the week, a couple of quick runs with a rag keep the bike looking clean. It really doesn't take that much time, and it sure makes the bike feel fast, at least that's what I say. "A clean bike, a fast bike".