That's basically my car. I lose damn near 30% of fuel economy on E85 compared to E15. This suggests to me that my engine burns Ethanol about as "efficiently" as it burns gasoline (especially when you consider that E85 is only 85% ethanol, and that E15 fuel is 15% ethanol).
E85 doesn't have as high of an energy content as E10 or E15, it's something like 72% of the gasoline equivalent. The nice bit about E85 though is its resistance to knock. You could run an engine with E85 at much higher CRs than an E10/15 can, but if you put it into a car that can run E10/15, you're going to hit what you just described.
Impreza is a compact Sedan though. It seats 5 but your rear passengers will feel bunched up.
Honda Clarity is +4 inches wider and +20 inches longer. Cars of this size normally cost in the $22,000ish range. So $25,000ish for PHEV (After the $7500 credit is factored in) is a bit of a premium, but the gasoline savings will almost certainly win over in the long run.
That's why I liked Honda Clarity PHEV and GM Volt PHEVs. They actually were cost-effective at their jobs.
To be completely honest, I wanted a manual transmission and my options in the US for inexpensive new cars that have AWD, a standard transmission, and a hatchback, leaves you with... well, one option. Not to say that it's not a good car, it is, but for what I wanted it was about all I could get. You don't really want to have 3 people in back, it's not meant for that. I was mainly using it as a commuter vehicle as I was the only person in it most of the time.
Car people hate CVTs, because they annoying AF when doing designed what for they are intended for; keeping the engine in the sweet spot RPM band. That and they still have a fair bit of drivetrain loss compared to a a clutch and manual gear box if I'm not mistaken. Not all that great of innovation in my opinion...
The CVT variant of my Impreza actually gets better gas mileage than my 5MT, far better with the DI variant of the FB20. They're actually very efficient as there are bigger Subarus with a CVT that have better gas mileage than my vehicle, despite weighing more and having bigger engines (2.5 vs. 2.0). Now, I didn't buy a CVT for one main reason, I wanted a standard because I enjoy it.