I just got back from a 2,000+ mile trip to Montana on my S40. I ran through some rain, and when the belt dried out, it chirpped like hell. The alignment was good, and the tension was good, so knew it wasn't a systemic problem.
I stopped and picked up a can of WD-40, sprayed the belt, and that was the end of the chirp. That was about 1/2 way through the trip, and didn't seem to have any ill effects.
I farmed for 12 years, and we use to spray down all of the v-belts on our swathers and combines before we stored them for the winter. Kept the rubber softened up, and prevented the pullies from rusting. That is where I got the idea for the bike.
I'll make sure I always carry a small can with me.