E85 pumps are going in all over, new ones every week at least. Its thin in some areas, but not in LV with 20 pumps. California is finally growing, they were held back by CARB and the people running CARB who had oil and coal interests. Really. Its coming to where it isnt, and where it is we can use it. We dont have to, but its available and you never have to worry about having enough octane not to ping. I still have to drive 21 miles to get E85 since there is only one station near here with it, it would be awesome to have so many pumps so close to me like he does.
The BTU content is lower, but BTU is a measurement of how long it takes to heat one gallon of water. We arent heating water with an engine, we want it to do work and make power. Gasoline does a nice job heating water, even in an engine it heats things so much instead of powering the vehicle that we need large radiators to suck the heat out. Ethanol burns faster and cleaner heating the parts less that means more of it goes to actual work than waste heat. You also have the added benefit not fouling the engine and oil with black carbon, its kinda nice since oil changes can be much less frequent and you dont have nearly as much internal wear and crud building up in there. the lack of heat build up in Las Vegas is a huge bonus, if you want to make lots of power and not lose it when it gets really hot, ethanol is the way to go. It is affected much less by ambient temperatures than gas engines.
The reason why you need to run more fuel through the carb or injectors is simple. Ethanol is an oxygenated fuel meaning it has its own oxygen, so you need less air to make the same power as gas. Since the ports, valves, carbs, and everything else is designed to ingest air for gas, its all too big for the same power level. So you need more fuel since you are getting some air in the fuel. The hot air in Las Vegas will actually help him get better mileage with ethanol, where it would make it run worse with gasoline. I can explain that later if you guys want to know how.
All of this translates to you will produce more power, it will drive better, not fall off in the heat, wont overheat nearly as easy if at all, the engine will last longer from less black grit in it and less heat in the parts, and you can make lots of street power with it because of the compression. It is very easy to work with, very easy to tune, and wont hurt anything on the car right now.
The bonus is if you send me a Qjet and a kit, I will rebuild it, make it run on my engines with E85, and ship it back to you free of charge. I do it because it is fun for me, and I want people to see how nice it is to run E85 in their GTO. I dont make any money from doing this, I do it because it is a good fuel and it is easy to work with.
You can always build an engine with low compression and send me a carb to try out. It will still run great with even 7:1 compression, and all it takes is a carb swap and drain the tank if you dont like the power you get, or if you want to make a long road trip to California or one of the other states without many pumps. Thing is I know you will want more compression to get better mileage and power after you bolt the carb on and fill the tank with ethanol. I know I did after I built a 700hp E headed 467 that will run on 92 pump gas. I wish I had built more compression in it, I could make the same power with a smaller cam and have it more fun to drive.
You know though, this is all my opinion of what I would do if I lived there and had a blank slate to build an engine. You dont have to, its just something you could do.