Originally Posted by suss6052
E85 is not particularly high octane. It's on par with 90-93 AKI octane rating fuel generally. Pure Ethanol has a higher octane rating, but most of the time they blend in sub-octane gasoline with E85 in order to lower the cost per gallon.
People use it for race applications because its cheaper than racing fuel, contains its own oxygen supply, and has a cooling effect as compared to E10 when injected into the combustion chamber due to the higher latent heat of vaporization.
Couldn't have asked for a better reply! Too bad that even after a bunch of spark advance, using E85 still nets you less mpg (familiar with E85 having a lower energy content).