E85 is neither 'fish nor fowl'. It's easier to tune for clear premium
or straight ethanol.
In my world (the VW world) the legend is John Karcey. He was building AA-fuel drag motors, gave it up and moved to Hawaii. There he built a karmann-Ghia that got 50mpg. It was the progenitor of the Mileage Motor series in HotVWs magazine, now available
here.
The basic recipe is square bore/stroke ratio, high reciprocating mass, electronic ignition and low friction lubricants. He used a 50lb crank pulley and stock weight flywheel.
Daox posted this in another thread and it's the most interesting thing I've seen in a while.
PEK1 Engine Kit - Assembly Lubricants
I've got a 0-miles stroker 1776 (like the Mileage Motor) on the bench, and I'm thinking I should tear it down and reassemble it using this kit before it goes into a vehicle.
Other random things might include anti-reversionary headers.