Regarding the immediate and long term impacts
-increased ethanol content leads to increased idle speed. All saws not tuned for that level will have higher idle speed, and the clutch may engage at idle. Existing carb limitations with limiter caps will probably not be sufficient, your saw will most likely run lean even when it's at max turns CCW on the carb screws. Also leaner operation, so saws will be liable to increase above max recommended speed if their carbs are not adjusted and could seize in this way.
-increased ethanol will worsen current problems with degradation of fuel lines, carbs, etc.
-increased ethanol will worsen fuel durability; fuel will expire faster than it already does.