@rshak, First was made by Nitty Gritty, but was discontinued because some chemical it contained was banned by the EPA. It was as you said, a heavy-duty pre-cleaner, made to remove mold release from new LP's before they were cleaned with regular cleaning fluid on their RCM's. My first (no pun intended ;-) RCM was a Nitty Gritty, but I found it lacking. I much prefer my VPI, but the newer Okki Nokki, Pro-Ject, and Clearaudio machines look really good too.
If a single application of Last is done to an LP, I can't see any reason that LP would develop noise months later. If anything, I would expect the opposite. Maybe it's the snake oil in the Last ;-) .