You would probably destroy the vehicle, not to mention the engine.
Gas engines not modified for E85 are not able to monitor the ratio of Ethanol to Gasolene and adjust the fuel feed accordingly. So my guess is that the engine would misfire horribly....
And no, modifying a gas engine to burn E85 is not cost effective.
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~2005 Stealth Gray H2 SUV.
~Wishing for an H1 to appear in the driveway some day... 
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