Simple answer, in my opinion NOT VERY WELL!...lol
The Ethanol will light by spark, just not well, thats why they have winter and summer blends.... the gasoline is put there to light the mix.
you can get E98 to light by introducing less fuel, and it will light and burn just fine.
We have done testing from 98% down to 70%...
you can take 87% and make the same if not more power.
Too often people get the mentality of this is good so this has to be better...simply NOT TRUE!
in all the testing we have done, 87% (in the right A/F mix) made the most power of all the ethanol blends from 70% to 98%.
So far this year we have burned 9 drums of fuel, only one was for the race car...we are constantly doing R&D to find the best blend, combination, calibration, and carburetor that we could possibly have.
While others quit when they have something that works, were working on perfection.