The second and third points would be perfectly valid if you had an injection setup with a large enough pump and injector. The Snow kits are nowhere near big enough to bump octane enough to extend the limits of your fuel system and what if you run out of alcohol in the middle of a high boost, high RPM run...KABOOM!!!!!! Those kits were designed for a dragstrip use, not street use on a regular basis, the reservoirs are just too small.
"Posterity! You will never know how much it cost the present Generation to preserve your Freedom! I hope you will make good use of it. If you do not, I shall repent in Heaven, that I ever took half the Pains to preserve it."