I think the answer is an obvious yes. It would make more power than the 8:1 at the same level of boost. It would also be more responsive. There are lots of guys on the YellowBullet forums with similar compression and boost on E85.
Anyway, it sounds like you really, really want to give this a try. You already have the engine. I say go for it and log your progress here. I would love to follow along.
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Badder than old King Kong
And meaner than a junkyard dog
-Jim Croce
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