I already posted this image in the forum and i will post it again. I'm preserving my mantids in jars filled with alcohol. The main downsides are obviously the alcohol cost and space so next time i'll try drying them in the sun. A couple of years ago i didn't know a damn thing about preservation and i thought the more alcohol the better it preserves.
The results of that thought are well shown in the image. The jars with the yellowish liquid have alcohol 96% and the ones that are transparent have alcohol 70%. The difference is quite remarkable. Although not very noticeable in the picture, the mantids preserved in alcohol 70% have only a very slight discoloration while the other 2 in 96% alcohol are catastrophically discolored.
The advantages are that it's easy to do and it's quite interesting to observe. But you pay a price for this technique, which is huuuh... High.