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E85?

Hmm, so I read a bit about it:
http://en.wikipedia.org/wiki/E85
And it turns out that there is normally a power loss as compared to gasoline
(lower energy density), but a high compression turbo saab claims better
mileage/performance on E85, so...
Does that mean we could theoretically go aftermarket EFI + turbo + stock CR
16v???
Corn.. Err. I mean food for thought. 
Al