The Facts I can confirm about E85:

1. There is no proof that burning E85 in your vehicle is any better than burning gasoline
2. E85 is about 15% Cheaper than gasoline
3. One should expect (based on research) to get 15% fewer miles per gallon while using E85 vs. gasoline. I, however, noticed a 28% decrease.
4. E85 is much more expensive per mile than Gasoline.
5. E85 is tagged to the price of gasoline, it is almost always 15% cheaper than gasoline. So unlike gasoline that is priced based on what the commodity is currently trading at, E85 is priced based on what gasoline is trading at.
6. There are very few gas stations that provide E85. I had to drive 14 miles to get a tank of the stuff, which equated to 2 gallons of ethanol to get it, rather than driving one mile to get gasoline.

I just don't see the advantage of it. If it were proven to be a much more clean burning fuel, ok. If it were not always 15% cheaper than gasoline, then maybe, but that seems like obvious price fixing to me. If it were more readily available, maybe.