I work with a non-automotive industrial heat exchange process which is sold and guaranteed to -40F (-40C) and our standard coolant is 60/40 PG so I deal with it regularly.
Frankly (and it would beneifit us to have it) the boiling point elevation is worthless. Yes, it is a few degrees, but from where we start, it is worthless. What we use it for is the freeze protection.
That said, our customers won't freeze and burst their piping, but the viscosity/density relationships at the very low temperatures are such that the stuff can't be readily pummped with the pumps we have for normal temperatures. We have applications of the process where (plain) water is used, so I have to be able to calculate it both ways.
That said:
First, some respected Automotive Engineers with expertise vastly superior to mine have weighed in on the engine internal aspects of this (bad in my opinion) idea. I'll leave that to them.
Second, for my part, think about the heat transfer on the heat rejection end of the cycle. Unless you do something to accommodate the heat transfer penalty of that concentration of PG in your radiator, the same problem you have getting heat into your coolant will plague you in reverse when you need to get the heat out.
Third, if you realistically need the PG for freeze protection, do some calculations (Dow has technical data available on the net) regarding the flow characteristics of the stuff at low temperatures. I suspect - using some overstatement - that you could burn up an engine in very low temps before you got the fluid throughout your system warm enough to be able to have a complete flow loop unless you had some type of heat tracing system or radiator heater version of a block heater to keep the stuff warm enough to serve its function.
That is our experience. We require that our customers maintain the fluid somewhere well north of 0F in order to start the system up. Below that the stuff just won't flow easily enough to permit the pumps in the system to pump it around fast enough to do the heat transfer duty. I had to go to top Management at Dow to get the properties of 60/40 at -40F and assure them that I didn't intend to try to pump it at that temperature, just to be able to calculate to prove that I couldn't. It has the consistency of soft butter at that temp. It has the consistency of 90w gear lube oil at some of the temps that I do need to pump it.
Anecdotally, I had a personal friend who thought that if 50/50 EG was good, then 100/0 EG was better and that was what he ran in his vehicles. However we lived in an environment where our low temps weren't very low (the low record was +6F) and the highs weren't very high - 100F was a real scorcher, so he got away with it and... he was the type who knew everything and couldn't be confused by the facts so I didn't try.
I think that the best statement made in this thread above was the one that said if you intended to do some heavy hauling in desert environment temperatures, use pure water. From a heat transfer point of view, you can't get any better than that.
rmw