OK , all this data is based on 25 years of dyno testing in my shop (probably 1000+ engines) All 4 stroke from 1.5 ltr to 800 inch pro mods.
Anyhow av gas is a very good fuel, the "dryness" is the fact that it is a bit rough on hoses ect, we always added a touch of redline to it and problem gone.
It has lead, and thats a good thing.
In many back to back dyno pulls I have found that 100% av will take as much boost as VP C12 , the max we found is aprox 14 psi @ 3000 ft running 9-1 static compression. C12 (green)would take 15 psi before the det sensors(4 head and 2 block) picked up anything. So my gut feeling in a 2 stroke is at altitude you could run 14 pounds with 100% 100ll.
Now that being said in a normally asperated engine we saw detontation creep in around 12.4-1 with 100% ll, vp C12 started at aprox 13.5 -1 so the av works a tad closed to vp/torco/112 ect in a boosted application.
The Low rpm/high altitude ect ect ect rap on av gas is garbage IMHO.
Now for higher boost the VP C16 is the best fuel we ever found, 25+ psi with zero issues, and for normally asperated motors, VP C14 (yellow) is very hard to beat for responce and peak HP its a great fuel. C 16 (dark blue) works better as the boost pressure increases but does not work well in a n/a motor, just for the high boost. VP C25 also is quite good with N/a motors.
The old (green) av gas 110/130 was really great, and the 115/140(purple) even better.
In any engine the closer you can get to the detonation point the more HP you will make, ANY extra octane is hurting power, throttle responce ect. 2 strokes are very sensative to this point. We have done 2.5 mercury drag motors for marine use and for max hp run them right on the limit for the elevation we raced at.
So bottom line treat 100ll av gas as 100mon fuel, blend for your proper octane and it will in fact work GREAT. Just like any fuel cross the line and your engines toast.
Last year we as always tested the local pump gases (91 non eth) and found as usual they pretty much were all crap, some as low a specific gravity as 35-40 !!! Av tested at 64 c12 at 65-67 and c14 at 70 c 16 at 72+ on that day using our spec grav tester.
Well thats my story and i'm stickin to it......hope it helps somewhat.
Oh one last thing, for the money av gas can not be beat as a good higher octane fuel...yes race gas is somewhat better but its not 6 bucks a gallon better unless your racing for money..lol