I've always had good luck with alcohol, but it does have to be 91%. If you use the standard 70% isopropyl rubbing alcohol you might as well be using water. No effect. On some models it strips it right down to the plastic very quickly. On others, well...
There is some factory BASE paint that the alcohol doesn't take off right away. It doesn't even seem to be brand specific because my Kato F7's cleaned right off in a flash, while my Kato SD90's were a bit more stubborn. I'm assuming it probably would end up taking it all off if left to sit long enough, because it does turn the alcohol that color. With enough time, then, it will obviously turn loose even if a little bit of toothbrush style encouragement is needed. Thing is, the factory base paint is so thin that I'm not sure it matters whether you strip it off or not. The alcohol does quickly take off all the stripes, letters, numbers, what have you completely, and those are what will show through as bumps in the new paint. I've had very good luck with just removing all of that and not worrying if every bit of base coat is off of the model. I honestly can't tell the difference between the ones that were completely stripped and the ones that still had a little of the base color coat left.
I do know that oven cleaner will actually turn Kato bodies brittle if I recall correctly, and I've also heard someone say that brake cleaner will do damage if left too long (but this guy was talking days, not hours). I've also had Tony's experience where the oven cleaner that strips off one brand doesn't even touch the next. So FAR I haven't run across that with 91% alcohol. It's stripped (at least mostly) whatever I've put in it.
In any case, I'm just always worried that I'll dip the wrong thing into the wrong chemical and end up with goo. The 91% isopropyl works well, is fairly non-toxic and pretty much worry free. My two cents.