I agree with Mike, and I am not afraid to use ArmorAll for my lines, I've never had a problem with deterioration. He touches on a point I think most overlook and that being the rod and guides. Along with cleaning the line I make it a point to polish my rod with ArmorAll to lessen the effect of line slap (and I know all about "Pledge Furniture Polish" do I have to buy another chemical?). As far as the line goes I pay particular attention to the back of the line, the part of the line we shoot. That's the part that needs to slide. To float a line, I dress the first few feet of the line and butt of the leader with albolene if needed.
My feelings are, I don't like a sticky line or rod and I like the business end to float YMMV.
"As far down the river as he could see, the trout were rising, making circles on the surface of the water, as though it were starting to rain."- E.H., The Big Two Hearted River