OK methanol has better characteristics for water/alcohol injection. Several reason why is methanol isnt as hygroscopic as ethanol. Motor fuel ethanol is not E100 as it takes a great deal of energy to make ethanol anhydrous, or 97+%.
Now methanols vapor point makes it a better option when injecting. Ethanol doesnt work as well, neither does rubbing alcohol.
Nelson racing engines has video up on youtube with a blown engine, the blower sweats running methanol.
Ethanol wont work as well.
Dont get me wrong, Ethanol is a safer, more efficient fuel for several reason. One its NOT corrosive but methanol is. Now Ethanol does strip any protective oils or oxides (stainless, cheap kind , limits rust by invisible oxidation sealing the surface) methanol can and will corrode stuff. ALSO methanol produces formaldehyde/ other aldehydes which are even more corrosive and poisonous.
The best feature about ethanol is its ability to be put out with water as that dilutes it. Methanol will just sit on water and burn. And requires foam to extinguish or co2.
Lots of research has went into vapor injection, Water moistens the air and promotes a better, more complete burn. Dry air pre ignites or detonates. On the average 30%to50% builds best average power production, more than 50% generally will indicate inclement weather coming unless its dropping.
Water/meth works because the water does what its supposed to, methanol adds octane AND cools the charge. The combo is pretty much works and other mixes have been tested, worked on and the other mixes have been moved to the side as they are less effective.
Dont get me wrong, you can try to use different things but dont forget, lots of people have worked with this stuff and the science is sound and it works.
Ethanol has it limits and poses a few more issues over water/meth. For street use use washerfluid, for performance BoostJuice from Snow or I believe Devilsown has their own mix.
Hand mixes are dime a dozen I know two guys who try to use nitromethane in it but again the corrosion issues arise with those.
If you start custom mixing have fun. and Good Luck