Meth will cool your intake charge in addition to e85. It's similar to adding an intercooler to your current setup.
I've never run the vs, but had a couple XP cars. Low end will still annihilate street tires on demand. If you want 350whp, you'll probably need a cam. 11's will be tough though. XP, e85, and meth might get you there if you have good air, but most cars run mid 12's with those mods.
My XP car went 12.9, but air isn't great here.