a buddy worked for Mr Wang back in the 70's
Wang was the guy who developed the original system used on the P-51
they were useing water injection to run high compression cars on low/no lead gas
and get better milage by leaning out the gas mix too
and selling kits to do exactly what you want to do
this is on cars with carbs so no on the fly mix control
problem was if the water alcohol mix ran dry BOOM went the motor
so yes it can be done
BUT there are risks
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Question wonder and be wierd
are you kind?