This discussion had me curious. Since octane has nothing to do with energy content, but ethanol ratio absolutely does, I wondered if E88 is going to yield significantly lower MPG. The answer, apparently, is no...
"In a real-world environment, the difference in mileage between Unleaded 88 and regular gasoline is virtually undetectable. Studies by Oak Ridge National Laboratory and the National Renewable Energy Laboratory have shown that with all other things being equal, in a controlled environment, ethanol’s impact on fuel economy would be equal to the loss of energy density. This translates into a loss of less than 2% for Unleaded 88 when compared to regular gasoline. For a vehicle getting 30 mpg this would equate to a drop to around 29.4 mpg, or about the loss of miles to the gallon when vehicle tires are improperly inflated."
So I suppose as long as it's at least a few percentage points cheaper cheaper than the E10 gas you might typically buy, you're still getting your money's worth.