Suit yourself.
You need fuel-grade methanol, not hardware store denatured alcohol(which is actually ethyl alcohol with a touch of methanol so you can't drink it). Fuel grade methanol is usually guaranteed to be 98% pure or better(usually ~99%+. Hardware store stuff isn't.
Pump E-85 is a cheaper, easier option that doesn't need a special carb nor will it eat your fuel system. The gains are smaller, however. You still need to jet up about 30%.