I would not recommend using rubbing alcohol at all. What you can use without fearing damaging your machine's cosmetic appearance depends on what type of surface is on the machine. If you have a shellac finish over gold decals, you certainly wouldn't want to use anything other than SM oil. I suspect your machine does not have a shellac finish, but I can't state that with any certainty. That's the first order of business -- what surface is on your machine?
Jeanette