The thing with ethanol, or alcohol for that matter, is: it takes more of it to run your engine - that may be why the aforementioned Honda didn't run - it wasn't getting enough fuel (perhaps the injectors couldn't keep up).

Now, I'm no engineer, but I have done some research. While it may take a bit more fuel, the higher octane and cleaner burn gives more bang for the buck (literally).

On top of that, I'd rather my money go to support farmers (the less corporate the better) than the rich oil tycoons. On top of even that, it is better for the environment.