I replaced the original AC pump in my '53 in the early 60's with the equivalent Carter and have never had any problems in 125K miles. Just rebuilt it and seemed still OK. Never encountered vapor lock. It seems I heard something long ago about Carter pumps being less of a problem in this department, but can;t recall exactly what the deal was.
WRT ethanol, it is an awful idea. I have switched everything I own that requires gasoline to ethanol free premium. With gas prices at the present level the increase in mileage with this grade outweighs the extra cost. I currently have an Audi, and last year there were bad problems here in the north with alcohol, and the local dealer advised not using it. Can't imagine ever putting it in a Kaiser.