i use premium and wouldnt use anything else
there is a good article in the first edition of mini experience have a read

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Ethanol fuel is already being delivered in Victoria and possibly also South Australia.

http://www.unitedpetroleum.com.au/

Wednesday, 29 June 2005
?United Petroleum has today introduced two new grades of petrol, BOOST 98 and PLUS ULP, at its retail sites in Adelaide. United?s customers will for the first time be able to choose between normal unleaded petrol and ethanol enhanced petrol grades?, David Szymczak, the General Manager of United Petroleum said today.


Market forces will mean that some fuel suppliers will offer ethanol-free fuel. If you want ethanol-free fuel and there's enough demand, they will supply it.

I will only buy my fuel from a company that does not add ethanol (as long as I'm aware of it!).

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72 Clubman and a 75 Van.

As kev said it has half the calorific value of petrol. I remember Dave Vizard writing about it in one of his books, the car needed huge jets to get enough of the stuff in and it consumed ethanol something like 4 times quicker. So basically it is cheaper but its crap for economy.
I say the best way around it is to increase the quality of fuel and run high compression ratio's, more efficient, more torque, less emissions, fuel supply possibly wont run out so quick? i guess production costs may be higher tho but its better in the long run... ethanol is a waste of time IMHO.