There is a lot of online info about E-85. You can buy Holley/Quick fuel type E-85 carbs. Some even say they can build E-85 Q-jets.

One problem seems to be the quality of the E-85. Many times it's not exactly 85% ethanol. And the percentage changes from the warm weather months to the cold weather months.

Obviously the ethanol content will have a great effect on carb tuning. There are test kits to determine the amount of ethanol in the fuel you buy.

https://www.amazon.com/Quick-Fuel-Technology-36-E85-Sample/dp/B007ZJ749O

http://www.jegs.com/p/Holley/Holley-E85-Fuel-Tester/2883596/10002/-1

But, assuming the carb is tuned for the fuel you have, E-85 has some real advantages. Besides being high octane, it also makes the engine run cooler.

Some say it attracts moisture. And it won't get as good mileage as normal pump gas.

I'd prefer to build with less compression or use Torco Accelerator octane booster.