I've got three 404 Unimogs with the low compression M-180 engines and they have been burning regular ethanol-additive gas for years. No problems. Sure I prefer ethanol-free gas but it's not always available. A buddy in Knoxville uses a 404 mog as a daily driver and he runs lowest octane ethanol gas too. The additives are fine, and I am one of those who put some Diesel, maybe 10%, in the gas occasionally in hottest weather. The purpose is to combat vapor locking, which these trucks are prone to. The truck runs better too.
The characteristics of today's gasoline are totally different from what the trucks were designed for. For one thing, the Reed vapor pressure is so low that the gas vaporizes easily. Try to run winter gas in the summer and it'll vaporize before it can be sucked out of the tank. Most any additive will help that (motor oil, 2 cycle oil, Diesel) and these engines burn it just fine. Modern cars use a submersed pump in the tank, and maintain higher than expected pressure, to avoid the vapor locking.
Concerning the ethanol additive, we all know it's added for political purposes instead of for performance, but it's not all bad though. If you recall years ago we added alcohol to the gas to draw out the water that's inevitable in gas tanks not used much.
Best advise for a 404 owner: run the wheels off it and it'll be happy.
Bob