The addition of 10% ethanol does not result in 10% reduction in fuel economy, actual difference in heat content between 100% gasoline and 10% ethanol blend is around 2%. DOE study showed that cars running between 20 and 40% ethanol blend actually achieved better mileage.
Ethanol blend does not store a long at straight gasoline as the ethanol can/will absorb some water.
Ethanol, particularly with some water can be rather corrosive so use caution when leaving it in OPE etc. that will be setting for long periods (I lost a McCulloch 200 many years ago as the stuff simply corroded the tank full of holes). We have had the choice of ethanol or not for years here in Iowa and I always use it in my cars and trucks but try to avoid it for the other equipment that does not get used regularly. I probably have drive 500,000 miles using ethanol blend and other than the fuel pump in my '72 VW squareback, no fue related issues whatsoever.
Pete M - Production of ethanol only uses the starch from the corn (wheat, barley, etc) and all of the protein is still available, commonly used for cattle and other livestock feeds. Who should decide what farmers are allowed to produce and who they get to sell their products to? Take a serious look at the current price run ups on commodoties and you will find that petroleum, not bio fuel production is the real price driver.
Mark