Mileage observations do not equate to power potential. There is more power potential in the ethanol blends than there are in 100% gasoline. E85 is widely considered cheap, high octane race fuel. In simple terms, gasoline has more BTU per pound, but you need to burn about 1/3 more E85 to maintain a common Lambda ratio. In the end, the mass of E85 you burn for a given Lambda ratio, will have more BTU content than the mass of gasoline. There are also charge cooling and octane considerations that make E85 appealing. The one big downside is the potential for widely varying ethanol content from pump to pump. Because of this, many serious racers are sourcing E98, which, for the most part, seems to be blended to higher standard of consistency.
All of that said, don't expect to pump the cell full of E85 and set the world on fire. As stated above, you'll need roughly 1/3 more fuel by mass in the chamber than with gasoline. E85 will also want more spark advance. Get the calibration right and you can enjoy the benfits.
That said, will E85 pass SCCA fuel regs?
Also, for those wanting to experiment with high octane gasoline race fuel, the same applies. Don't expect to drop it in the tank and make more power. Octane rating has nothing to do with the fuel's energy potential. Some race fuels are heavily oxygenated and will make more power if the ECU calibration is setup for the fuel. However, these fuels will not pass fuel tech.
I did locate a station in Montour Falls (down the hill from Watkins Glen) that sells non ethanol it is 87 and $4.57 per gallon vrs 4.10 for the "blend" also had Sunoco race fuel at $9.25 for 110 or 112. Anyhow We bought 10 Gals. to use in car. I'm not sure how much good it will be, but sure hope its better.Hmmm wonder if it would pass "Fuel Sample" test. In view the milage difference I wouls think it has to effect output. 
