OK, here's the problem. Its not just that you may leave shavings, its that rubber leaves a thin residue on the contacts, so you aren't really cleaning them.
Alcohol doesn't corrode contacts. Isopropyl Alcohol contains more alcohol than vodka - around 90%, so it evaporates quickly. And the stuff I recommended is contact cleaner, a form of alcohol that comes in an aerosol. It wouldn't be made and used by pros as contact cleaner if it eroded them! Try MCM Electronics, or maybe Radio Shack. In the UK, Maplin sell it. Oh, and compressed air is good for the slot, yeah.
OK, now if you go into a bar and ask for Coke and they give you Pepsi (or some other crap), they could be in trouble. In fact, soda refers to any carbonated drink - you should say cola <IMG SRC="smilies/wink.gif" border="0">
Oh, and Band-Aid - we call them plasters (sticking plaster, i believe), and the most common brand is Elastoplast.
How did we get from erasers to band-aid?