I use hot stuff and have had no problems. The reels I fish today are 50 or more years old, Heddon 125's and round line guard 1494's. When I want to reely clean a reel to get the sand and gunk off I use brake cleaner from an auto parts store. It will was that stuff out and leave no residue.
Also be aware that some screws are not designed to be removed so examine them closely.
When I want to smooth nicks and such on an old reel I use my Dremal tool with the sanding buffs. They come in three different grits.
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