Gee I hope I realise that, considering I'm an industrial chemist. 5% water behaves differently in solvent systems and won't do jack if run through quick enough. You'd be opposed to water-methanol injection as well???
Also there is no way in hell you'd be diluting 100% ethanol, it costs way too much to produce, just to dilute back to 95%.
95-96% is when ethanol forms an azeotrope anyway which is why it is so cheap to produce. Taking ethanol from 95% to 100% is where it gets bloody expensive.
Methylated spirits doesnt contain methanol anymore, they're ~95% ethanol, 0.25 Methyl Isobutyl Ketone (make you sick) and some Bitrex to make it taste bad.