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Greg covered it pretty well. My 2-cents:
- keep it sealed off from outside air when possible
- cap the vents between race days
- Use a lube in the alky
- Get the engine HOT (200) at the end of the race day, shut down and pull the breathers for a little while
- The carb idle calibration is very important, some are too rich; check it
You will need a fuel filter compatible with alky, typically a stainless steel mesh screen type.
I love it (Ron's Flying Toilet injection). I have run both E85 and methanol (alky). Right now alky can be really cheap, I pay $150/barrel = $2.73/gallon. You will use close to double the fuel per day compared to gasoline.
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