Is Smoking Really That Bad For Audio Equipment?

I have my friends over periodically, and some of them smoke. At the moment, I ask them to go outside to have a cigarette because I'm concerned that smoke will be bad for stereo equipment. I don't worry much about the smell because I have hardwood floors and minimal furniture, so there's not much to trap the smell. Does cigarette smoke damage speakers or does it get into audio equipment and leave residue on electrical connections, etc? I am curious whether there have been any incidents where cigarette smoke actually harmed someone's equipment?
Dirtyragamuffin, I was in Green Bay in Dec. 04 and it was freaking cold compared to Chicago. I guess you have to be be alot tougher to endure Wisconsin winters, and I could see why you would not ask your friends to head outside. I have never had would probably be too strong for me. I will stick with beer and whiskey when I am looking to relax. A little off topic, but there was this beer from Wisconsin called Rhinelander. It was really cheap and pretty decent, but unfortunately I can no longer find it. Such is life!
Yes, vaporize!
No tar, no smoke, no combustion, no irritants... just pure vapor.
No cancer, no bronchitis, no emphysema, no stroke, no heart disease...just pure pleasure.
I was at a friend's house listening to music when his amp started smoking. He immediately turned it off and sent it to its room without dinner. He said he would not tolerate smoking in his house :)
If you think the heaters have a diverse effect on your gear, wait till one of you "toqemasters" spills the bong water!

In my line of work, we have a policy that states, whenever the smoke has been let out of one our machines, the plc must be rebuilt! Smoke is bad.