Um, where to start..
it eats some plastic & rubber parts, cars made to run on it (eg in Brazil) are modified to use it.
Alcohol (methanol, anyhow- probably ethanol too) has 1/3 the calorific value (ie. heat energy) of petrol so you need to flow 3 times more of it if running it neat.
In the old days Shell A race fuel was 3 times dearer than petrol, so to go 100 miles cost you 9 times as much.
Are you still with us?
OK at 16:1 C/R it does give better power than petrol, and it smells nice with old type Castrol R (castor) oil..

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DrMini- 1970 wasaMatic 1360, Mk1S crank, 86.6HP (ATW) =~125 @ crank, 45 Dellorto (38 chokes), RE282 sprint cam, 1.5 rockers, 11.0:1 C/R.
