How nice would high octane gas be?

I've seen quite a few guys at the track running on e-85, they say they need to watch out for corrosion, other than that they seem happy with it.
I have to run 110 on my 12:5 to 1 race motor and it costs $10.00 per gallon around here.

I was in college in Nebraska in the mid 80's when a few stations started offering "Gasohol". I don't remember what the mix was. What I do remember is filling my '73 Charger 340 with it and not getting 5 miles down the road before the needle/seat in my Holley carb would clog and flood over. Apparently it loosened up crud in the gas tank and sent it up the fuel line.