More like 140BHP minimum, 7k peak minimum. I ask very little
, except for RWD, manual tranny, an efficient 4 cylinder, cheap, and compact 2+2. Too little HP is easier to rectify than bad MPG especially if it lowers the base price. And while 2.0l is not a guzzling large displacement, a 1.6liter can be 50-75lbs lighter in the front, get better MPG or rev higher, and be more compact. 200BHP would put it into the same performance category as the RX-8 albeit $10k cheaper and there is no guarantee that it will be any better on the corners. The Mustang/Camaro is faster either way for only a couple thousand more $$$ but it's a vastly different car. If it takes a low output turbo to achieve 200+BHP it doesn't bother me. E85 means more boost for less.
E85 will not eat the injectors if that's what you mean. Even if it is on par with Premium for cost per BTU, (E85 has 70% of the BTU's that Gasoline has), than it is cheaper than Premium per HP. The "E85 conversions" are for people with no mechanical skills, basically a bolton deal that widens the length of time the injectors are open and they are rare for specific models. As an example a proper E85 conversion involves bigger fuel injectors with different o-rings(the most likely pieces apart from the fuel lines themselves to be unsafe with long term alcohol exposure), upgrading the fuel pump, and insulating the fuel tank sensors/wires. It can make more power if it's tuned by an (E85) tuner but if you reset the ECU by unhooking the positive battery cable for 30 seconds then rehooking it back up and firing it up it will run the same as gasoline. Unless your car is designed to run better on Premium grades you probably will not feel much of a difference nor will it run noticeably different. It will just make your exhaust smell like alcohol
and your MPG will be less.
Outside of states that grow corn or have Ethanol plants(not all of it is made from corn) it is rare to find a station with even one E85 pump close. In some states like Kentucky the stations are mostly centered around Louisville or out of state. I live 30 miles from a public accessible E85 station but I live in the country where everything is far away and getting it 100gallons at a time and just refueling at home is not problem for me. Some of the E85 guys frequently have problems refueling with E85 since stations are rare or spaced farther apart in most places and the blends do change with the seasons(they add less ethanol during the colder seasons so the blend actually gets more expensive during the winter) but the turbo guys get far better results than Premium grade is capable of achieving. For a street car it's hard to beat even if it was more expensive than Regular per gallon.