Alcohol in a wound hurts like hell, povidone-iodine doesn't(-ish).
Furthermore, alcohol damages tissue much more than povidone-iodine if it get's into a wound, but alcohol has much less chance of allergic reactions.
Personally, I would go with the povidone-iodine, or even better: Hibicet (also called Savlon), which is a Chlorhexidine-digluconate / Cetrimide-solution. 
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 ''It's time for Plan B...'' ''We have a Plan B?''  ''No, but it's time for one.''  -Stargate SG-1