lol I wrote a paper on FFV and E85 earlier in this semester. If you're looking for a decent overview go read wikipedia.
Biggest issues with E-85 is one the amount of plant matter needed to make it for the whole country.
Another is how corrosive it is. Ethanol will erode alumium/alumium alloys and eat certain paper/rubber gaskets.
And there is a MPG drop usually 20-30 percent, and requires fine tuning of the vehicle to run it super efficiently.