Re: Methanol vs. E85
The major complaint everybody has about E85 is the fact that it will give you less mileage per tank than straight gas. Some of them can't understand that people may want to use it due to the higher octane level. If filling up more than usual isn't an issue for you, it can be done, but you should probably plan out your fuel system accordingly.
E85 has a tendancy to absorb water, so anything that will be subjected to the fuel should be capable of handling any water in the system. This means stainless injector internals (I believe both Delphi and MSD injectors are stainless), a capable pump, filter, regulator, and all associated lines.
erue had mentioned that he was going to use E85, but I don't know if that's still the case or not. If E85 was readily available everywhere I'm sure you'd find more people trying to switch over to it just for the octane, but seeing as how availablity is spotty right now most people don't even bother.
There should be a thread on here about E85 I started a while ago with some information in it. Do a search for it and see if there's any more useful information in it. Found this through Google too:
http://e85vehicles.com/converting-e85.htm