Yeah, it's been done. Garth did it and a few others as well. It's a poor mans race fuel. BUT you will lose power on it if you don't have the mods to support its use. And you'll get shitty fuel mileage on the stuff.
Do a little searching.... Garth did it (on a gen 4, if I'm not mistaken) and had comparison dyno graphs for 3 different fuel types... All set up on the same bike. On a NA application, especially for a streetbike, it's not very impressive.