Will the engine of a standard petrol car freak out if I give it ethanol?

Simply enough, North American vehicles run on petrol that has an octane rating of 91 I think. If I use ethanol, with (according to Wikipedia) 129 octane, will something bad happen to the engine? Will it just run less efficiently or will it break down? I am not talking about any other part of the car than the engine. I don't care about fuel lines, etc.
 
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