Well, if you had some water in the system, the ethanol would have cleaned it out. That is one plus for ethanol, it will keep the water out of the system. Since using it up north here, we no longer have any problems with frozen gas lines in the winter in our vehicles.
Ethanol is hygroscopic, that is it attracts moisture. Not a big deal if you run a lot of miles. However if it sits long enough as in tanks for boats, it will absorb enough water to separate it from the gasoline, which will float on the water. If your fuel is delivered from the bottom of the tank, you will be drawing mostly water into the carb. Engines don't run well on water. Do a google search on this topic, interesting info!