The latest Shop Notes has an article on bit and blade cleaners and while my favorite did not win it required the least combination of time, amount of the product to get the job done, and was in the middle of the pack price wise. Most required soaking, Formula 2050 sprays on and is wiped off.
Assuming all things being equal.
Lestoil was the clear winner however it is not environmentally friendly and needs to be properly recycled. The deed was done in 5 minutes.
Rockler was next at 10 minutes but you have to mix 1/3 cleaner with 2/3 water.
A new product "Extreme" Simple Green was next at 15 minutes and required 2 to 8 times more product than the other brands and was much more expensive. Don't confuse this with the regular Simple Green cleaner and see the note below concerning the original Simple Green.
Formula 2050 and Goof Off required 30 minutes however neither had to be soaked or mixed. formula 2050 is biodegradable, Goof Off is not.
Baking soda was the cheapest but required all day, 8 hours and had to be mixed.
A word of caution from the manufacturer of Simple Green. The original cleaner is effective however Simple Green recommends that you SHOULD NOT use the original Simple Green to clean your carbide blades. The contents of the original Simple Green cleaner will cause the carbide to leach from the metal.
It is cautioned also that lye based cleaners, like oven cleaners, will break down cobalt binders that hold the carbide together.