I use an alum block every day regardless of whether I've nicked myself. The Alum block is an antisceptic, reduces razor burn, stops minor bleeds and tells you how well you've shaved, the more it stings the harsher the shave. My shave isn't complete without one.
As far as I'm aware the styptic pencil is purely for treating cuts.
[SIZE="1"]Ah... You can't beat the cold steel and the badger. All this electrical rubbish, little wheels spinning around all over the place for callow youths and peach fluff, Not for a man's beard. Razor blades for men! I think we'll have this on number 9. If you're going to have a shave have a close one!
Tony Hancock, The Bedsitter, 1961.[/SIZE]