I loved E85, even when I was na in my Eclipse. You will need to tune for it, need a bigger fuel pump and possibly bigger injectors. MPGs do go down since you need about 30% more fuel than just gasoline. Maybe even try mixing 91 octane and E85?? Maybe try mid 90s octane first and see if you really want to go all the way to E85.

Downs petrolium, or many other high volume fuel stations. I dont think a license is needed but you might to buy it without subsideary costs to get it for that cheap. It doesnt need to be stored out of direct sunlight to prevent lacquering. He have several gallons at our shop and our place isnt exactly the prime example of shop safety.

if you can get Eth for 1 a gallon then why is it 3.50 for E85.

Subsidiaries and taxes

Diesel at the pump runs about $4 a gallon

Red diesel (non taxed) runs about $1 a gallon, same thing here.

Taxes alone are outrageous. You would think the state could operate just off off of those taxes alone.

I run an Ethanol/91 mix when I want to go fast. It is good for about another 40lbs.ft of torque over straight 91 the way I have my car tuned. I also run about 5psi more boost when I am on my Ethanol tune. It's good stuff if you can find it. There are a few pro/cons though...

Pros:
Able to run more timing in the tune
Able to run alot richer since Alcohol based fuels carry oxygen molecules in the carbon chain and petroleum based fuels don't.
It has a high detergent effect on valves because of its alcohol base so it runs quite clean.
It is very boost friendly since it is considerably more knock resistant than 91 octane.

Cons-
Hydrophilic (attracts water) and is therefore probably not the best choice if the vehicle will not be running for any length of time as water may start to infiltrate the fuel
The alcohol tends to crack rubber so anything that isn't a hardline steel fuel line may fail in the future
You will get HORRIBLE fuel economy on it. I get 30% less in my car and I run E85/91 in a 50/50 ratio.
Good luck finding an E85 station. There are 3 in San Diego county, luckily 2 are by my house.
You will undoubtedly go through tires and brakes quicker because of the extra power. lol

Honestly though the real advantage is in a forced induction motor. Mine (as an example) can run 5 more psi of boost AND 10 more degrees of timing at WOT (and thats at 50/50 ratio because my stock fuel system can't get enough E in the cylinders). Naturally aspirated engines will probably have more benefit from race gas.

Figured I would chime in now. Ive been running a mix of 30% E85 and 70% 91oct now for two years. I love it because I run 12.3:1 compression with no knock even on hot summer days. Also even though the car is tuned for this mix i can use straight 91oct if i get stuck too far from a station with e85. Also the car motor seems to run cooler and parts such as heads and pistons remain cleaner. FYI, modern cars, 90's and up, have fuel systems that are compatible with ethanol even if they arent rated for it. These vehicles dont use straight rubber like older cars. New fuel systems have chemical and alcohol resistant hoses. Ive used my stock fuel system with no issues. Only difference was bigger injectors which i already had due to my previous mods. E85 is a great fuel for high performance vehicles, too bad its in limited supply here in socal.

So how does E85 effect California Smog?

Not sure, never ran it when I got my smog check.

Ethanol burns cleaner so it will lower emissions. Just dont tell the tech in the case you vehicle isnt flexfuel.