Hi,
I race at TORCH so know what its like when the track is wet and horrible
For me, when I get home from the meeting I strip all the bearings out of the cars (my 2 boys and mine) and throw them all in a plastic lid full of WD40. I found that blasting them with either WD or GT85 can just force the water around the bearing rather than out of it. I then leave them in there for a few hours. I find that that tends to get all the water out of them. Once that's done I normally throw them all into another lid which I have full of std 3in1 oil and them leave in there till I rebuild the cars. Normally when I get round to it a few days later. This allows the oil to seep into the bearing. Using this method I haven't had one seize on me yet. Its really keeps them in good condition.
As one of the other posts mention, once a bearing starts to feel crunchy its already too late as the shell has probably started to pit with tiny rust holes. It may work for a time but once the dreaded red starts to eat the shell its only going to end up one way.
Anyway, that's what I do and it works for me.
Toby