As mentioned already, I still remember seeing an interview w/ Lance Armstrong where he was preparing his shorts for a race and I think he put about 20 gallons of cream on his shorts while talking.
I suppose that when you're not paying for it, apply liberally! I, too, use it primarily for anti-bacterial purposes.
To save on money as the official cycling brands of saddle cream are quite expensive, I've experimented with various creams used for baby diaper rash that are readily available at the local WalMart or Walgreens for considerably less money
For example, A+D Diaper Rash Ointment. I figure if it's good enough for a baby's butt, it's good enough for mine! My experience has been that these creams work but are far more greasy than the official cycling creams. It does come-out just fine in the wash, so if you can deal with the baby creams being a little greasy, they're a little cheaper.
