Pros: Burns cooler, contains higher octane, lowers risk of detonation you can be more aggressive with a boosted application.
Cons: Not all stations carry E-85, the fuel must be tested if bought from a pump to ensure that it is 85% or better (running lower than E-85 can cause major damage), Requires ~33% more fuel and fuel system (Injectors, Pumps, Lines).
For a N/A application, imho its really not worth it. However down the road on a boosted application, the gains and safety aspect are phenomenal.