^^^ Yeah definately check out the write up. If it doesn't answer any specific question let us know here. Here are some quick highlights...
Advantages...
1.) E85 FTW!
2.) Highly resistant to knock which means you can turn up both boost and timing without such sensitivity to knock.
3.) Cleaner burning, Less emissions.
4.) Moar Powa for many reasons. See the write up for details. typical power gains can range from anything from 10 to as much as 50 or more HP over gasoline depending on the tune and parts selection.
5.) Lessens your dependency on foreign oil.
6.) It's a very cheap alternative to race fuel and Meth.
7.) Doesn't require a tremendous list of modifications to convert. Just injectors, fuel pump and a tune will do in most cases.
Disadvantages...
1.) Not the most fuel efficient. You use 30% more of it than petroleum.
2.) Not available in many areas.
3.) Not great on very cold mornings. Cold start issues can be tuned out but the tuner needs to know what they are doing and not all of them know the proper way to do it.
4.) Some areas are price gouging because the demand is going up.