I have been doing a bit of research myself on alcohol injection and the data looks promising. As far as im aware it significantly lowers intake air as well as boosts the octane of your fuel. The up side its like running an intercooler and high octane fuel. The downside is that it is not constantly running like either of the two. I got a system from a friend and havent installed it yet so i have no first hand experience unfortunately.
If you plan on running the 3.2 pulley on the street then the alochol is not the way to go. If you plan on running it on the track and the 3.4 on the street then it is a great idea.
First and foremost you should really tune your vehicle. It could help you decide which step you need to take next if any. Other cheep ideas would be a cai or fwi or colder spark plugs.
