I've used a mix of Tergitol and a small amount of isopropryl alcohol--as Harry says, the dilute amount we use will not affect the vinyl (which is what chemists also claim). If I'm not mistaken, Photo-flo isn't around anymore? What I didn't realize was that the extra step in ultrasonic cleaning is the important rinse and vac treatment. Even when we used to clean things ultrasonically decades ago at the shop, we always rinsed afterward. I just wish I had a more powerful vacuum system.
The one reason I can trust Harry's advice is that he has the resources to experiment with these steps. I don't know about high frequency loss, but some of the used vinyl we all buy is probably in a lot worse shape than anything he's cleaning at his place, and I'd rather lose a barrage of surface noise from dirt even if it cost a possible small amount of high frequency loss. Regardless, for new records, I give them a minimal run through the ultrasonic. For older records that have more crud, they'll run a while longer. I can safely say (if I haven't already) that the ultrasonic cleaning has gotten records cleaner than anything else I've tried (especially those overpriced cleaning solutions, which I've found to clean no better than the simple Tergitol/IPA formula I've used in recent months that cost a small fraction thereof to make). Even new records get a cleaning now.
I've never felt vacuuming alone was enough. Seeing how the ultrasonic has improved any record I've vacuum cleaned kind of proves that point. Wetting the packed-in dirt for a minute or two can never loosen it, and neither can felt pads. (Same concept as soaking a dirty dinner plate for two minutes vs. an hour.) It needs something to agitate the dirt out of the grooves and the ultrasonic provides that.