I have a 2015 Sierra 5.3 that does not have the $100 FlexFuel E85 option. I've had FlexFuel trucks before this, and like the option to run E85, but this truck does not have the option. All 2014 5.3s are E85 capable, and the 2015s have it as a standalone $100 option. I did some research on what exactly the $100 option gets you, and I'm pretty sure it is just the yellow colored gas cap. According to GMpowertrain.com, and all parts information I can find, there is NO difference between the E85 and non-E85 5.3. GM Powertrain says the 5.3 is E85 compatible, period.
So, I decided to run a couple tanks of E85 to see what happens. Turns out, it runs E85 exactly as I would expect and have seen from my previous FlexFuel trucks. It cranks a little longer on cold start, as others have reported. It get less MPG, maybe 20% less. It idles smoother and feels much more responsive than on 87 octane gas. I had to pull out into 50mph traffic from a stop so I hit the gas pretty hard, the truck smoked both rears and stepped sideways a little bit. It is not that responsive on 87 gas.
I also noticed that the truck seems to hold higher gears more, rather than downshift early. I think on 87 octane gas it will downshift much sooner as an anti-knock protection, to prevent a load on the engine at lower RPM. If I would breath on the throttle with 87 gas it would want to downshift. This makes sense, but it also tells me the engine computer is sensing and adapting to E85. It also runs in V4 mode more often and longer on E85, another sign the engine adapts to E85. It is also injecting more fuel with E85 (as is expected with a flexfuel engine), so it must be measuring ethanol content.
I'm convinced the $100 E85 option is nothing more than the yellow gas cap and a way for GM to offer a choice. I wonder if there is some advantage to GM in CAFE or fuel economy calculations by having E85 as a customer option, versus a factory default. I see a very noticeable difference in smoothness and responsiveness on E85, and I like how it holds a gear longer. I think I'll try a couple tanks of 93 octane next then 89 octane, to see if there is any difference.