Problems you MAY see, but which are offset sufficiently by the economics of the endevor, are....
Early IP and Injector failure
Fuel tank problems (clogging or contamination)
Eroding of glow plugs
coking in the precups
Excessive smoke
Unpleasant odor
decrease in performance
I haven't had my injectors out yet, but my Beru's seem to be doing just fine.. When I dropped the fuel tank, it was spotless. I guess all the sloshing around helps keep things stirred up.
The only excessive smoke I've seen, is when the thing is idling. I would imagine that the fuel isn't being burned hot enough, to completely burn.
The unpleasant odor is something you have to learn to live with... There's no avoiding that.
When I had my 93 hooked to our previous 32' camper, I tried pulling it on straight diesel and on my wmo mix. There was a distinct power increase on the wmo mix, as compared to the straight diesel. The EGT's were a bit higher, but wmo has more BTU's per gallon than diesel does.
Burning too high a percentage of wmo, will cause your truck to run rough and you will not have as much power as a lower percentage.
My best performance on wmo, was roughly 70% wmo and 30% diesel.
These are my personal observations, with my truck. Every truck is different and results may differ. This is what works for me..
Also, I now have a 94 7.3 PSD and have experimented with wmo in it. I've gotten up to a 50/50 measured mix and the truck seems to love it. It runs quieter, has more power and quicker throttle response. I do still have the smoking at idle, but the odor is greatly reduced. I also filter the wmo to at least 5 microns and will be at 1 micron absolute, when the new filters arrive.