Re: I can see why smoking was banned!
Not sure I understand your point. Alcohol's actually got fewer BTU's per unit volume than gasoline. It also needs a higher concentration in air to burn. It's less susceptible to detonation in engines, though, which means the engine can have higher compression and make more power for its size.
The main hazard with alcohol is it burns with a clear, invisible flame. On the other hand, since it's water-soluble, it's easier to put out a puddle of alcohol than a puddle of gasoline; you can just dilute it with water until it won't burn anymore.