Dave, In Australia we are allowed to use methanol in bikes made before 1973. My Seeley 850 gets into that class on a cheat, however I would not think of racing a four stroke using petrol. Methanol is much gentler on engines even though it usually makes them go faster. A two stroke on methanol is a beautiful thing because it chills the crankcases. In a 4 lap race, you usually get three fast laps, on the last you have brake fade and a slower motor. The funny thing about methanol is that in the 50s every racer was using it, and it was probably the reason our guys competed so well in Europe - they were used to the speeds. However when they got there, they found out that the manxes in Europe using petrol, went as fast as the ones in Australia which used methanol.
Personally I don't like petrol for racing, I believe product reliability is an issue. I think that is why a lot of our top guys use Elf Racing fuel. This thing about having ethanol in the petrol is appalling if there is no readily available alternative. In Australia we've removed the TEL however the benzene is still there, so it is still toxic and I think I'd rather become more mentally retarded through exposure to lead than get leukaemia from benzene.