The problem with Ethanol as I see it, wisechill, is that it doesn't burn as quickly (instantaneously) as "gasoline" or "petrol" without it. That might be why GM and Holden (and others) are encouraging it's use - they're in business to sell their equipment and that made by their suppliers after all.
we want that burn to be as explosive and instantaneous as possible, so that most/all of its energy is transferred to making pistons/cranks etc move rather than enjoying a wee bit of a sightseeing trip out the exhaust manifold past the oxygen sensors (the gear it can burn up that GM wants to sell). Heck, the Marketing people have even gotten on board with that, as they're quietly recommending fuels that meet their "Top Tier" specification (google it). makes sense: When the cars become less efficient, they go in for "service" where parts are often "(worn) out of specification" or "malfunctioning" and need replacement. sell, sell, sell. couple that with pumping more ethanol "enhanced" fuel - you need more quantity for mileage compared to non-ethanol fuel, which they sell for less...so you're not really saving money.
Yes, per volume unit, ethanol does contain more energy, but it can't all get used in the timeframe that an internal combustion engine in regular road cars can use it. Me, I've been using midgrade, 89 octane with 5% ethanol with the MPG Remedy that Tracy mentioned and I've seen the mileage in 2 vehicles go up ~10%, so less fuel per km. Less fuel used, less money spent, lower emissions over regular 87 octane E10...that's good for the planet and my wallet.
Yes, per volume unit, Ethanol also burns more completely, leaving fewer residual compounds than gasoline...but if I'm using more of it to go the same distance, am I really helping the environment or my wallet, no matter how inexpensive it is?
I say no; this seems to be a case of penny wise and pound foolish to me. and that's what my experience shows.
But if you've got an LPG system on your vehicle, that beats both Ethanol and gasoline on all counts. Stick with it and use gasoline with as little ethanol as possible when you absolutely have to!