Quick news summary with different fuels: NA (normally aspirated):
E85 is examined as a racing fuel. E85 is a combination of ethanol and low octane gasoline. Some racers report more power from E85 than from methanol. On the other hand, when the Indy Car League converted from methanol to straight ethanol, dynamometer tests revealed a reduction in power after the conversion.
In our drag racing, we did use air to fuel ratio as a controlled value to get the engine into a linear range. That task is an extensive explanation through out writings. The linear range is where the engine is completely predictable. We achieved that very well in our racing.