the ecu would at most have long term and short term trims via the o2 sensor. under what conditions those trims work and how much leeway they have i dont know.
bear in mind that with full e85 the mixture needs to be about 30% richer than petrol for the same lambda. your 380cc injectors are, conveniently, about 28% bigger than the original 295s. E15 would need only about 5% more fuel for the same stoich AFR, but at idle you can have quite a rich mixture and the car will still idle fine. also i have no idea whether there is any difference in injector deadtimes etc, which can also significantly affect AFR at idle.
at E50 or so you would be running no more than 20% richer than the ideal, which is near enough imo that the engine would probably not have too hard a time running on it. especially if the ecu is pulling fuel via feedback from the o2 sensor
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