If I may add my 2 cents;
My kids junior dragster runs on alcohol (methyl hydrate actually) and I build the engines. (and have EXTENSIVE race engine building under my belt)
1) alcohol runs cooler, most of the time you have to lean it way out to get it hot enough to make a pass if your running a liquid cooled engine. Air cooled is fine and we run with NO COOLING AT ALL. The fan/shroud/fins are removed as they are not neccesary.
2) You have to jet up a lot. About twice the fuel to air as gas (6:1 is about right for alcohol) Run it rich and you lose power and run cold but more importantly it dilutes the oil in the crankcase. (I change the oil every race day, about a dozen passes)
In the junior is a 5hp briggs, I fill it with 8oz of oil and drain about 12oz of milk after a dozen passes. Total run time is about 3-4 minutes per pass (driving back to the pit after the run etc) so about 1/2 hr or 45 mins of run time.
3) The 5hp briggs is fully modified and turns 9-11,000rpm. the only stock parts are the crank and block. Yes on a v8 you bump the compression to take advantage of the higher octane but high compression on a flathead kills airflow and power. The briggs is 7:1 comp. I run 50 degrees ign advance. The cam has a lot of overlap and duration (260@.050) which bleeds cyl pressure and allows more ign advance. Stock cam, you run about 36degrees.
4) I run it for the weekend and then drain the carb and fill it with wd-40. If it sits more than a few days the alcohol dries up and plugs the carb with white flakes. Yes, this is a fuel system set up to run on alcohol. Even full size cars running alcohol drain and wd-40 the fuel system if the car is going to sit for more than a few days. I've tried other lubes but wd-40 works the best. I turned on the fuel and rolled the motor over until the carb was filled and the motor fired..took it to the line and it quit on the hit. Took twice before I figured out that the routine is, get to the track and pull the carb, pull the bowl off and wash with brake clean,(there still can be a bit of flaky crap in there or white powder) reassemble then roll it over and fill carb.
5) Starting..I use a starter off a 50hp outboard modified to fit the 3/4" nut on the crank. You would NEVER, EVER, EVER start it by pulling it over!! It spins about 6-800rpm for about 2 seconds before it fires and runs on it's own. Splash some gas in it like dragsters do to fire then let the alcohol take over when it's running perhaps, but even a v8 won't start without gas priming.
Lets see if I can add some pic's....
This is me cleaning the carb, the aluminum box with the battery in it is the starter. Notice too the flywheel on the engine has no cooling fins and the lack of shroud. That is the slower engine with the modified stock head. (head still has fins)
Here's a better picture of the starter
Here WAS the fast engine..notice the billet head and billet side cover, it's been changed to a full roller bearing crank instead of bushings. Also note the chunk out of the belt and the missing chain/bent sprocket...
This is what happens when the chain comes off at half track and the engine goes to 12,200rpm according to the data recorder...notice the missing piston? $150.00 wiseco forged piston turned to fine pieces of gravel and bent the oversized valves, broke the block...there is the 28mm mikuni carb up top too.
I found the piston!! (and the busted billet cam..)
But.....this is what it's all about..kids happy, ain't nothing money can't fix right? LOL

Numerous 57L kegs, some propane, one 220v electric with stilldragon controller. Keggle for all-Grain, two pot still tops for whisky, a 3" reflux with deflag for vodka. Coming up, a 4" perf plate column. Life is short, make whisky and drag race!