Sorry if people vehemently disagree with what I said. I was relating what has worked for me, and what has been recommended to me by more than one OSMG. The SM oil will not hurt the machine. The OSMGs I deal with (neither knows each other, and neither knows I talk to the other one) both say that using SM oil to clean a machine is the way to keep the finish shiny and black.
According to David Mccallum, Naptha (lighter fluid) can be used to remove SM oil residue (I tried it once, it scared the hell out of me), if necessary but he says very specifically never to use alcohol on Shellac, it's a solvent for shellac.
Carnauba wax will leave a layer behind to help protect the machine. Also a David Mccallum recommendation.