There is no additive that will make up for how corrosive E85 is other than adding back 75% gasoline... or a couple gallons of raw oil to the mix, lol. :P
Ethanol is highly corrosive to older rubber compounds, seals and coatings used in many old gas tanks... mmm... clogged fuel filters galore. If you're willing to risk an engine fire or the possibility of having to replace that miserable fuel filter on a frequent basis, have at it. The other, safer option, is to replace anything which you're unsure of: fuel lines, injector O-rings, fuel pump (potentially a BIG fire hazard) and fuel tank (or try to find a way to make sure the interior is not coated with anything).
There are a lot of benefits but there is a hazard to it.... Anyone looking to do this would be well advised to avoid cutting corners or fooling themselves by putting faith in what they already suspect is bad advice.
I know a few people who've done this now and a couple have been lucky so far with only replacing injectors, fuel lines and the washers in the fuel system. I still don't recommend the "run it 'til it breaks and then just fix that part" strategy.... especially not with fuel. The people I know who've done it all have newer vehicles (the oldest is a mid 90's Porche and the newest a Toy 4x4, early 2000's I think).
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