I never deal with metanol, but some friends who works in drag racing cars do a lot...

if you stay behind car you´ll hurt your eys (tears fall apart lol)...

besides methanol will outstand like 120~130oct

cana de açucar ethanol works like 110oct fuel...

The great diference is the heat proof...

last week I made an Golf IV 1.8 20VT with an upgraded turbocharger with OEM intercooler advance next 6.000 RPM was about 30~32° with lambda about 0,85 and never get any knock using ethanol even the inlet temperature was about 95°C...  car measeured 310Hp@7.000RPM and 42Mkfd@5.500 RPM.

Ower send me a log today IAT with 126°C and no knock at all...

I was very impressed too...

But, compression ratio in NA engines with mild cams using regular fuel stays next 10~10,5:1 (indirect injection of course)... the same engine just using modified pistons (injectors and another mods to feed rigth) to raise CR can achieve next to 13,5:1 using Ethanol... I saw some competition engines using ethanol and very agresive cams with 14,5~15,5:1 !!!!!

Made some 1.8 20VT became 2.0 stroker engines with CR 11,5:1 using GTX3071R and 1,45Bar falling to 1,25Bar and achieve 530cv and 64mkgf with no knock at all  (advance next to 22° and lambda next to 0,83 next rev limiter).

I said all the good things... now it´s time to de bad....

ethanol has a flash point between 13,5 and 17°C  so it´s very hard to start an engine in temperatures lower than this, and even if You are next to 20~30°C you´ll need a LOT of enrichment...

Another bad thing it is particulated, you get your fuel filter clogged in about 5.000 miles, and your pump will have to be about 50% bigger (what requires modifications in Wiring in some cases).