I started a thread a few months ago about the possibility of using an SCT tuner (or similar method) to reprogram the computer to compensate for the different air/fuel ratio that would enable us to run E85. The thread never really got much traction, so to speak.
I would think that the FI guys would take a serious look at this option as there could be several benefits to using E85 such as: ability to run more boost from the increased octane, but also (and this is a biggie for FI) the natural intercooling effect that alcohol creates as the fuel vaporizes. I believe this is due to an effect know as the "latent heat of vaporization", I'd have to dig up my old Physics text books to explain the science behind it. This could significantly lower intake air temperatures and allow even higher boost levels to be reached.
The down side is, as mentioned in some of the posts above, that when running E85 (or any alcohol) more fuel must be used per unit of air than with gasoline. Gas engines use an air/fuel ratio of about 14:1, pure alky engines use (I believe) an air/fuel ratio of about 9:1, so E85's optimum air/fuel ratio must lay some where in between those two, say 10 or 10.5:1 just as a guess. So this means that a larger amount of fuel must be introduced into the intake charge than one would need when running standard gasoline.
Other changes needed to run E85 would be changing the rubber seals in the fuel system to a material that can handle the new fuel and possibly changing some of the metal parts in the fuel system to resist the increased corrosive effects that E85 has over gasoline. Anyway, sorry for the long post, but this is a topic that I've followed for a while.
edit:
Here's a link to the previous thread I mentioned above. It's got some interesting links if you'd like to read more about E85.
http://www.vtcoa.com/forums/showthread.php?t=24772&highlight=e85
This topic seems to be very politically charged for many people. I'd like to submit that we take a look at this topic from a performance standpoint as opposed to some political football--it that possible?