Just throwing out a few factiods here:
1). gasoline has about 18,800 BTUs per pound.
2). Ethyl alcohol has 13,000 BTUs per pound.
3). lube oil has quite a bit more latent heat energy than gasoline- I'd guess around 20,000 BTUs per pound.
4). "octane rating" has to do with the speed in which combustion propagates (the rate combustion spreads from molecule to molecule). In a recip engine this is usually said to be 90 feet per second from the point of ignition in normal combustion. Propagation during detonation or "knock" is a lot faster (and HOTTER!). In the old days, they expressed the resistance of a fuel to pre ignition by comparing it to a fuel made up of a ratio of iso octane (which was at that time the most pre ignition-resistant fuel known) to normal heptane (which was about 100% pre-ignition). So, a fuel with an octane rating of 87 would behave the same as a mixture of 87 iso octane and 13% normal heptane. This is why "octane" only goes to 100. For anything higher, resistance to pre-ignition is expressed by "performance number". Octane has nothing to do with latent heat value.
Soooo..... having hard numbers to work with a number of conclusions can be drawn. If you cut 18,800 BTU gas 10-15% with 13,000 BTU alcohol, the result will be a fuel with less BTU value than gasoline- iE: less heat energy available. If all else remains the same, combustion temps will be lower.
Lube oil burns hotter than gas- but the difference between 50:1 (2% oil) and 32:1 (3% oil) isn't all that much. You can do the math and get a good idea what the final effect on combustion temp will be.
Burn speed will be effected by both octane rating and mixture. If the fuel/air mix burns slower, there will be less heat absorbed my the cylinder wall and head, and more downstream by the exhaust port and muffler, given the ignition timing remains the same. This will effect the EGT (greatly!).
Octane rating, since it controls the spread of combustion between molecules, has an effect on burn speed, which has an effect on where in the process combustion happens- in the cylinder or in the muffler.
Sorry for the long winded presentation- I had to know all this stuff to get my Aircraft Mechanics licences 40 years ago.
Porosonik.