Originally Posted by
BicycleTutor
I would recommend rubbing alcohol.
+1. Regular rubbing alcohol on a cotton bal or cotton pad works perfect. LBS recommended it. Rub down each side of th rotor a few times. If you got the oil on the pads though, chances are you'll just have to replace them, or so I'm told. I found the canned air stuff works great to blow out dust and stuff from the calipers.