Outside of a boosted aplication or high performance car where gas mileage isn't an issue, E85 is a joke. It takes like 30% (I am probably off, but it is a big chunk) more E85 to get the same energy as gas. You end up burning 30% more fuel and the cost isn't much cheaper. E85 prices are going way up because it is 15% gas and corn prices are skyrocketing as well.
I looked into converting my Trans Am to E85, but there were just too many drawbacks over pump gas to me to even think about it.