I've had some experience with Methacarn fixative. Yes, the methanol
replaces the ethanol. The tissue morphology is fabulous. I've had to use
it for a cytokine antibody which incidentally also required Protease
Digestion to work.  Theoretically, EIER and HIER should not be necessary
but in this one application I've had to use it, Protease helped
considerably.  
It's very drying to tissues so I'd advise keeping the fixation time as
short as possible.  One other problem with it is RBC's just won't quench
out their endogenous peroxide. I tried everything, including glucose
oxidase, and finally just switched to an alkaline Phosphatase system. 
Hope that helps!
Good Luck!
Denise Long Woodward
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