I still like the poiling water method the best.
I boil two or three large pots at a time, field strip, put small parts in a bucket, and alternate slowly pouring the boiling water out of one pot while the others heat back up. I leave the stock on and it gets the soaked-it crap out while raising the nap and getting out most of the dings and dents from the wood.
Takes a little more time (about an hour total), but is completely harmless to do on my driveway, cheap (like me), no messy clean up-it's hot so it evaporates right off in minutes, and no scrubbing needed. The stuff just melts away.
When cleaing the stuff in the bucket, make sure to overflow it, as the melted cosmoline rises to the top and spills over the side. Then put a drop or two of dishwashing liquid in at on the top so when it cools a bit and you reach in to fetch the stuff out, it doesn't pass thru the film left on top, if any is left.