Wow, I'm gone for one day, and I'm a celebrity in this thread! ROTFL!
Yamvip, you got mail. To summarize your questions quickly for the sake of the other viewers, it does burn cleaner, and leaves little to no carbon deposits. Your oil (and even the inside of your tailpipe) will stay much cleaner. If your Explorer is a FFV, which you've stated it is, there's no reason not to use E85, unless it's not cost effective. It has to be at least 50 cents a gallon cheaper to come out ahead, from what I've roughly calculated.
Yes, I've kind of made my presence known around here as the E85 guy to some extent, and with good reason. I love it. Here by me, it's super cheap, performs well, and isn't the horrible voodoo water that all the naysayers tend to claim it is.
The reason ethanol isn't piped is not because it's corrosive (it's only corrosive to aluminum, and not much at that.) but because it will clean all the deposits left in the pipeline by gasoline and/or diesel fuel. This not only contaminates the ethanol, but can cause leaks in the pipeline because some minor leaks are acutally being sealed by this crud, and the ethanol will wash them clean, leading to leaks. The only practical way to pipe it, is to have dedicated pipes just for it, which is horribly impractical.
Sure, you will get a little less MPG on it...I generally get about 2 MPG less than if it were running on gasoline. Sometimes more, but a lot of that is self-inflicted too...This cold weather gets me to go out and warm my truck up for about 20 minutes or so when I leave work so the butt-toaster is nice and warm, and the windows are defrosted. My last tank only netted me 10.8 MPG, but a lot of that was just useless idling. Oh well, I'll pay a little for a comfy ride. Other times that I've turned in a rotten MPG number is directly related to the weight of my right foot. I like to give my truck a little flogging once in a while, and of course, horsepower requires fuel.
A great website to visit if you have questions on E85 is at Planet E85.
http://e85vehicles.com/e85/index.php
There's some wonderful knowledge there, including one of the directors of the ethanol plant by me here in Oshkosh.
I still am chuckling a bit that my name was brought up in this thread. I guess I should take it as a compliment though. I do appreciate that my knowledge is being shared throughout the Explorer community.
Any other questions, just fire away...I don't always get on here daily, but try to. Otherwise, PM me and I'll get back to you when I can.