Girard,
There are oil separation issues. Also, ethanol absorbs moisture, not good for an engine that sits for awhile. You would have to jet a lot richer, so milage would be worse. I had a friend years back that raced methanol fueled go carts. The engines were always apart so moisture wasn't a problem. IMO, no thanks. In a properly jetted four stroke maybe, but not in my 2-stroke. So far my '07 runs awesome on pump gas.