Correct me if i'm wrong, but i'm pretty certain E85 has a much higher octane rating than PULP, from memory it's around 105 RON or slightly higher. The impact of that is better resistance to detonation under higher compression, so if you actually worked an engine for it properly (i.e. up the compression ratio and/or modify the timing) to take advantage of it, it can definitely yield more power. This is the reason the turbo cars love it, you can run massive boost pressure without knock and hence no retardation of the timing advance by the ECU.

You used to have to pay a lot for fuel with a 105 rating (ELF anyone? ) or run Av gas....As mentioned by others though, you would have to build the engine specifically for it to get the most out of it.