There is a lot to be said for Kerosene. For one it is almost universally available, May lamps and stoves to choose from, cost is probably cheaper than most fuels, and it contains a lot of calories of heat per mass.
Biggest downside in my opinion is it may (read probably) requires a preheater of some sort, and something to consider is if you have a spill in you backpack, you have a major, stinking mess. Whereas alcohol (meths) doesn't smell badly and will rapidly evaporate leaving everything dry and useable, kerosene will leave everything wet, oily, and stinking until you get to the nearest launderette. I had this happen once. A small kerosene tent light leaked in my backpack and everything in it was ruined until I was able to run it through a washing machine. I still like and use kerosene fired equipment but not carried in backpacks.
Not that cheap anymore here in the UK and not always easy to find these days. I collect stoves and have many kerosene ones and I stock up on fuel when I can, try and keep about 100 litres to hand.
Some UK BBQ fluid is in fact paraffin, Wilkinson own brand and the BM stocked Flamefeast brand for instance.
Coleman fuel stoves are getting more popular now in the UK, the fuel is crazy expensive but you can get fuel like Panel Wipe or Aspen 4T which is affordable.
Martyn mentioned the Primus Omnifuel, a very good stove and will use standard Lindal threaded gas as well as kerosene and 'Coleman' fuel (Naptha), that said I have a soft spot for my Nova's.
As a starter stove look on eBay for stoves like the Optimus or Primus models OO or 210, they fold up and won't break the bank to buy, plus they are very easy to maintain with spares still readily available from
http://www.base-camp.co.uk/stove_in.htm
Pressure kerosene lanterns provide a lot of light, again look on eBay for Vapalux or Bialaddin lanterns.
Other help available on a very friendly site,
www.spiritburner.com