Overall, yes--because it will run significantly cleaner. Short runs, no. But then, short runs are problematic even for gasoline engines (i.e. they absolutely maximize wear). The oil doesn't warm up enough to drive off the water that condenses (from the combustion of gasoline).
The reason I like a "methanol economy" is that methanol can be produced very easily from our huge stocks of coal as well as ANY carbonaceous waste (garbage, ag byproducts, etc., etc.) and is a stable liquid fuel that can be phased into our existing transmission infrastructure.
I also like the idea of diesel, provided they can get the NOx emissions issue resolved. I have read about microbes eating algae and producing an oil as a waste product. A diesel fuel can be readily made from virtually any oil provided a little methanol and lye. I also like the idea of such a widely variable and easily tunable power band you can get from a turbo diesel. You can switch from MPG to MPH mode without shutting the engine off.