Not Ranked
I am not sure about emissions, but if you are going to go through the hassle of changing to E85, you might as well modify the engine to take advantage of the performance potential. On the LS1 site I frequent, guys are running 12.5:1 compression with 10 or more pounds of boost and getting 1000 hp. Hitting 700-800 hp on E85 is pretty common. The one guy has 11:1 compression with 20 pounds of boost and over 1100 hp.
By the time you factor in the octane and the cooling effect of the alcohol, it is around 115 octane.
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