Shaffy - yes, you can use metho - check out this post from the Glow Engine forum - thread was about Nitro Substitutes
"When the article was written (June issue) it seems Bunnings were having a sale on metho...I went to my local Bunnings the other day to check it out and the only metho was Diggers so I imagine that's what he got but it was about the same price as methanol. I'm thinking about trying it too.
I can't give a direct link to that article because of the way the web page is set up but if you go to
http://www.vicstunt.com/ then click on the bottom left button (Newsletters), the next page the top button (A.C.L.N.) then select the June issue from the following page for a .pdf file. The article starts on page 8"