Here's a couple of sites that talk about the conversion- The First one says just what Patrick did- Rejet the carb, adjust the mixture, replace the rubber and you are on your way.
The second one says- its illegal for emission control reasons, which I don't think applies to pre 1974 vehicles.
http://www.mtea.net/Super%20Mileage/E85%20Conversion.pdf http://www.ksgrains.com/ethanol/regconvert.html "Is it possible to convert a vehicle that was designed for gasoline to operate on E85? Yes. However, there are no conversion or aftermarket parts that have been certified by the EPA as meeting the standards to maintain clean exhaust emissions. Technically speaking, converting a vehicle that was designed to operate on unleaded gasoline only to operate on another form of fuel is a violation of the federal law and the offender may be subject to significant penalties. No aftermarket conversion company has taken the initiative to certify an E85 kit that would allow a gasoline vehicle to operate on 85% ethanol."