If u have ever seen how quickly string material burns, u will NEVER even risk a flame catching a strand! Serving burn slowly and controlably, but a strand of string... Polar opposite...

I realisticly put well over a thousand shots a month on my target bows and will usually only wax my string 2-3 times in it's life... Remember, wax collects grit and grime, so wax build up between the string strands can be more bad than good sometimes... Just coat it lightly and u will be fine...

As far as oiling/lubing bow parts, I usually don't unless there is a problem.

Not much stuff can go wrong on a bow if u think about it, and they can take lots of abuse(you figure that out when u shoot alot competitively, or hunt in rough weather/locations). Make sure your bolts are snug, check for any string damage, and most bows are good to go...