Cost wise, it does not make much sense really to run E85. If you were after more power and had the knowledge to tune and reprogram the ECU, then E85 would be very beneficial. E85 has an octane of race gas; I believe it is something like 110 octane or something around there. If you had a high compression, high power engine; then E85 becomes your best friend because you can basically get race gas for the price of regular 87 or cheaper.
1996 Ford Ranger STX 4x4 4.0L
1983 Honda Shadow VT750C