In the past few months I have began using different dilutions of IPA/Distilled water for my wipedowns when polishing.
I have found on soft clear cars, mainly non metallics that too much alcohol in the mixture can attack the paint and cause it to haze over just a little, giving it a dry and gray look. After looking at the paint under different lights, halogen, LED etc. you will find the clarity and depth you were expecting to see after polishing is not really there.
Too much alcohol in the mixture can also cause light marring during a wipedown, your MF can get grabby and thus result in further marring the finish, after you just polished it of course! Using more distilled water as needed will help spread the mist evenly on paint and not get grabby as seen with straight or too much alcohol in some cases.
My solution, have at least 2 or 3 different dilutions of IPA/Water mixtures to suit different finishes.
I use 91% Isopropyl alcohol in all of the bottles mixed with distilled water
My 3 bottles go as follows:
Soft clear cars, primarily non metallic black - 40% Alc 60% water
Medium clear cars, both metallic and non metallic - 70% alc 30% water
Hard clear cars, ideally metallics - 80% alc 20% water