Well, after some reading and wondering, i filled my tank with E85 last week. Drove 200 miles on the enthonol fuel and then filled my tank with regular gas. Here are my findings:
The ethonol was way cheaper (about 50 cents less per gallon)
The ethonol fuel didn;t give as much power
the car ran rough when cold (which is normal for my car)
Fuel economy went down somewhat (19 MPG city with ethonol, 26 with regular)
Check engine light came on with codes P0171 and P0174 (both banks running lean)

Crusing on the highway the car drove like normal. Accelerating it felt like a 4 cyl rather then the V-6.

Normally i do get a CEL regularly (P0420 catalyst efficiency failure) and upon cold starts it runs rough, but the E85 made it run worse when cold, after 2 miles it worked fine.

Anyone have any other info or feedback on E85. It worked in my car, the car didn;t seem to notice a 50/50 mixture, but a full tank made it a little upset. Please do not run this in your car unless you are aware of any risks. I won;t be responsable for you damaging your car. I figured i would give my contour a taste of a "new" fuel