In ethanol mode, at least on the 11/12's, the injectors deliver 5% more fuel. In non-ethanol mode, you run leaner, motor is abit crisper, without being overlean. All with stock head.
Ethanol is simply a fuel oxygenator, and used to boost octane rating while replacing refined dino oil, with many other detrimental effects. It burns hotter (hence the enrichment with ethanol-mode), quickly becomes unstable, attracts water, separates from gas (leaving you with water and very low octane gas), and is just plain bad for the average small engine user in every way. The production of ethanol consumes more BTUs than the fuel delivers. We are victims of the corn growers lobby, very ignorant, greedy politicians, and stupid voters in the big cities.
Run good +91 non-ethanol whenever you can. If you have to run ethanol in a pinch, you can, it won't be the end of the world, change your fuel mode. Add a stabilizer like Startron if you are inclined, it works. Don't store a sled with ethanol in it for more than 30 days and run it. Those of you that must run ethanol all the time need to take other precautions if you're going to run the thing for a few years. A different topic.