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Needs a tune for E85 but if you've got big cams and high compression or boost to take advantage of the octane then it's worthwhile. Many on the internet spread ridiculous ethanol stories but every car made for decades is totally compatible with E10.
It burns cooler and cleaner than 93 with a much higher octane rating so you can run more timing safely with cooler IATs. This is great for boosted or high compression motors but will show only minor increases in power with normal naturally aspirated street builds. The only down side to E85 is you need about 30% more E85 to make the same power as 93 so this means an upgraded fuel system to support the demand and a loss of 30% of fuel economy. Unless you have an old or carbed vehicle there is no reason to avoid gas with ethanol.