One of the older Fine Scale Modeler issues had an article about thinning, and the Tamiya paints worked best with alcohol, at least 91%.
I'd been using the Tamiya thinners up until I read that article. I switched over at that point, and in my opinion, alcohol is far superior to the Tamiya thinner for airbrushing.
For other painting tasks, such as washing, I can't comment. I've only recently switched to alcohol as a thinner, and I haven't tried everything yet, and what I have tried wasn't great.
For example, I tried a wash with an alcohol/Tamiya paint mix, roughly 10/1 ratio. I felt the mix was not thin enough, leaving streaks on the large flat areas of the tank..
Just one person's opinion.
Nat