I think there's some confusion here:

Wicked chop is right that using regular gas (Ewith ethanol) seems to be just fine for motorcycles (track stud or not) even though they have never been tested for it's use for our years. Normal gas (E10) from a gas station will have an ethanol percentage that varies between 10-20% in testing.

Kona is exactly right in his description of E85 and you don't get that from regular gas, it's a specific pump at the station (yellow handles out here) and your bike/car/whatever better be tuned for it.

Putting ethanol in your Buell tank won't make more power. It will make less power. That is a fact. Ethanol has less BTU's than gas, (British Thermal Units) so more of it must be burned to make the same power as normal gasoline. That is the reason it needs tuning.

Ethanol does naturally have a higher resistance to knocking (higher octane) so the racers like it for very high compression or very advanced tuning. If you specifically build an engine for E85 you could make more power. Thats where the rumor that E85 makes more power comes from. Your stock engine won't like it.