I can't say much for use with ethanol, but if you have a large quantity, you might try some PG or VG mixes. This is what first brought me to the Nexus. I was working on this project for a couple months, but I have abandoned the idea. I believe that current consensus is that it's a possible ROA and there are better or worse ways to go about it (standard atty vs rebuildable--see conversation above). But for the most part, I haven't found it to be as efficant as I'd hoped and I've all but stopped trying this method altogether.
Like I said though, if you have "extra" spice, give it a shot. It's not too expensive an endeveour.