You can do some internet searches on this subject Tony and there will be LOTS and LOTS of responses with varying opinions.
From my experience I will tell you to do the following:
Yes its okay to use a claybar on your paint, are you sure you need to clay your car with a paint job that new? Did you get some deposits or contaminants in the paint such as sap or tar? If So you might be better served with some tar remover or a good wash/scrub brush.
ALWAYS keep the clay wet with lube and if you drop it chuck it in the trash. If you feel it dragging and making a scraping sound/feel STOP, youre marring up the clear, stop what youre doing and fold the clay over. Be sensible and dont use the clay that you just did your fenders/side skirts with on your hood. Start with the areas that have less contamination first so that you dont pollute the bar. I like to rip my clay into chunks to do separate areas of the vehicle, ie; wheels, hood, etc...
Clay wont really remove any clear from your car, polishing will do that.
For OTC stuff I recommend Blue Magic clay if you could find it, its got a little more bite than the usual Mothers/Meguiars stuff. I would get a spray bottle and fill it with your favorite carwash soap/water mix for lube, its just as effective.
Overall, just take it easy and try not to scratch the paint, remember to re-wax the car afterwards if you're not gonna polish after claying.
My 0.02 cents.
