how will ethanol affect my fuel mileage ?

They sell that same eco crap here.
Yep E85 takes from food production.

If you really wanted to make old engine eco friendly you could convert it to run bio or natural gas.

Bio gas CNG can and is made from cow poo :) and more you burn it better it is for enviroment, bio gas (CNG) is basicly Methane which is more bad than co2.




And for super hippies here is El Camino that runs for wood gas :)

[ame="http://www.youtube.com/watch?v=wZdPkrghUZM"]El Kamina - häkäpönttöauto - YouTube[/ame]