I considered running alcohol in my 540 Arias and did considerable research on it.
1) You burn almost twice the fuel volume
2) Everything will corrode unless additives are put in the fuel.
3) You need to run at least 11:1 static compression.
4) The engine will want to run cold and foul plugs.
5) The fumes are nasty and burn your eyes.
I am going to open a can of worms on this one but I asked two different engine builders with dyno's how much more horsepower will I get on alcohol compared to gasoline. One said none. The other said 4%
The only way you get more HP with alcohol is that it will allow you to run a lot more blower boost without detonation. So the additional HP is with the blower, not the fuel. I haven't run alcohol (in the engine)
I just got this info from others.