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Modern fuel systems are already capable of handling e85. It was older cars that really had problems with the fuel lines, as they quickly broke down under the assault of the alcohol.
For years now, more and more alcohol (up to about 10-15%) has been added to standard gas, so it's been in the automakers' best interests to ensure the fuel systems are alcohol stable.
E85 here use to be $0.40 cheaper per gallon than 87 octane when first introduced. Now it is only $0.10 a gallon cheaper.
Your mileage will drop by at least 6-7 mpg.
what a joke.
I have a feeling E85 is more of a subsidization for corn farmers than anything else.
Unless you're boosted, you are likely to be wasting time after a tune. I have been considering E85 for my SHO as I am currently converting my STi to E85. I wouldn't be surprised if a boosted SHO gaing 100+ whp from E85 and a tune. I've been talking to DeatschWorks about having some large high impedence units made out of my Accel injectors. I have a set of their 850cc (80+ lbs/hr) injectors on order for the STi.
The STi guys are seeing 200F drops in EGT's with E85 but spool is better because of the extra volume. E85 loves the summer heat too!