I do not want to sound cocky,but I am writing from the land where ethanol has being available at the pumps since late 70s.In the 80s more than 70% of new cars sold here by Chevrolet,Ford,VW,Fiat were alky burners.We do have quite an experience with this fuel.
Power: An engine can be tuned to duplicate and sometimes exceed the power of the gasoline version.
Driveability: Expect 3 times the warm-up time necessary until you can drive it.Use a hotter thermostat.Partially block the radiator if the engine runs too cool.
Cold start: It will not start bellow 60 F,unless you have the help of gasoline.Without heat rise ,will freeze the induction bellow the venturis.
Corrosion: Sending units,tanks,pumps,lines,carbs have to be protected by nickel.Will not corrode cylinders,pistons,rings,valves etc.
Pollution: Can be made to pollute less on HC and CO.Will release uncommon pollutants like acetone.Overall it is a clean fuel.
Timing: All engines respond better to more static advance and less total.Flame front velocity is slower.Could use cooler spark plugs if compression is raised.Same gap.
Rule of a thumb to modify existing carb:All calibrated fuel passages should be enlarged about 35%.Accelerator pump must squirt for a longer time.All calibrated air passages must also be enlarged around 15%.If the oil becomes
milky it is too rich.Use the same fuel bow level and fuel pressure.
If your line of work involves physical contact with fuel you will never want to deal with gasoline again.It is a fun fuel.Good luck.