Your only big problem is that if the injector is not designed to handle methanol it will most likely fail in a very short period of time. And the injectors that are compatible have to be flushed after your done racing. So for street use I don't think you want to have to flush the injector everytime you park the car for the evening.
The reason is that everything inside that is not stainless steel will corrode and the o rings will also have to be replaced regularly due to swelling.
MSD Fuel Mangement Tech Info