As I understand it, older Walbro carbs had a problem with ethanol, but newer carbs have gaskets made of suitable material. I believe that rebuild kits come with the new material. The engine should run, but may be difficult to get tuned, and will of course use more fuel. I ran ethanol in my 20 year old lawnmower and it did OK, with a very slight loss of power, and was harder to start.

RS