I have two year old 60° but I don't try to keep it looking new. I've only cleaned it with water and a brush. WD-40 is probably as good as anything to use.
Clean it good with a brush and WD-40 works, but a silicon spray would be better to apply after the cleaning a drying to protect it from rusting. Oil Can wedges, just like putters, look great up until the time you start using them.
The whole purpose of the oil can finish is to feel softer than chrome and to rust. It is really not the right finish to get if you are looking for clean looking club. Try the tour chrome or satin finish if you want something that will hold up over time. My vokey oil can started wearing off the first day I used it, but has since then kinda stopped losing finish. You can also submerge it in coke over night, and that will take the entire finish off I am told.
If its ment to be played with rust then so be it, i dont mind giving it a small scrub and oiling every now and again, i just thought i had a bad one :)