We really should have a different thread for the side topic of fuels.
Ethanol burns differently to gasoline, and a mixture burns differently again. Each engine is designed to burn a specific fuel, generally given as an octane rating, this is set in the compression ratio of the engine. You can design an engine to burn only one of the three, modern engines such as in a prius will have a knock switch that will change the injection to suit the type of fuel and reduce the issues but the simple truth is run the fuel your manufacturer suggests. You will always get better mileage on the recommended fuel.
Doug your decision is entirely rational and I tend to agree with it.
Older engines will have issues mainly with rubber gaskets / fuel line and so on. You will also reduce the life span of older engines in particular valve seats and stems.
My experience is entirely practical on the subject. When I learnt about peak oil I pulled apart the engine on a Massey Ferguson 35 gasonline tractor and rebuilt it specifically to run on ethanol. I changed the fuel lines, filters, tank, put in hardened valve seats and stems and increased the compression ratio. Corn is a big local crop, and whilst I'm an amateur farmer having a tractor that the real farmers could use in a crunch seemed like a very good idea. Aside from doing a test run or 3 and dusting the tractor off to show off, it has just sat in the barn for a while now. I've since focused my attention on Bio-Diesel from nut trees instead. Diesel is a much better bio fuel (crop wise) to produce. You can broad acre or orchard grow it, eg canola or pecans and so on. The post processing of ethanol via a still is also much more energy and labor intensive than doing SVO (straight vegetable oil) or even full bio-diesel.