I used to shave with a straight razor before switching to the Mach3 Turbo which I use now. All of the information I read on straight razor shaving said to keep Mineral Oil (i.e. "Intestinal Lubricant") along the edge of the blade inbetween shaves to prevent corrosion. Straight razor, high-carbon blades are very prone to corrosion, even over a period of just a few days.
Mineral Oil works great for both short and extended (3+ months) time periods and is easily removed with a light dabbing of isopropyl alcohol right before the shave.
You also might want to check out greatrazors.com, which sells cryogenically tempered packs of the most common blades sold today. I have personally found that these last about twice as long as a regular, untempered blade from Target. The only problem is, with the extended lifetime the lube strip tends to wear out after about a week (on a Mach3 turbo), and the blade is still useful for a reasonably good shave for another few days. This isn't a total loss, however, as the blades are the same price as in a store and the 7 days of shaves I do get before the lube strips jumps ship are far better anyway since the blade is sharper for longer.
By the way, I think eng-tips.com is the only place on the internet where you'll find a serious conversation about using a cathode charging technique to preserve the lifetime of a razor blade! Yup. This site is awesome.