Yes! PKM doesn’t worry about fuel nature, it just requires a target value related to your acquisition, than it tries to follow the target. In addiction if you have lambda instead Air Fuel you may don’t care, use always your preferred lambda, usually near to 0.90!
So if you use gasoline than your target should be around 13.1 (with Air Fuel) or 0.9 (with lambda), if you use methanol than your target should be around 5.76 with Air Fuel, always 0.9 with lambda.
Lambda or Air Fuel ?
Lambda and Air Fuel Ratio are specular. Given lambda you can calculate AFR simply:
Talking about combustion theory the right value for Air/Fuel mixture is when all oxygen and all fuel is burned. This value is called stoichiometric mixture ratio and depends from air and fuel chemical composition. The stoichiometric is calculated with chemical formula, following you have values for mains fuel. If in a combustion you use a mixture AFR same as stoichiometric, nor fuel nor oxygen will be present in the exhaust and you will have lambda=1.00 !
Talking about carburetion, you should have a good combustion but you need a little bit more fuel to increase engine power, cylinder cleaning, valves refrigerating and so on. For this reason carburetion should use rich mixtures, than AFR less than stoichiometric, than lambda less than 1.00 (typically lambda about 0.9, this means that some fuel is not burnt and it will be found in the exhaust).
Following there are some useful values for typical carburetion
As you can see using lambda is more practical because it doesnâ€™t change when change the fuel nature
Air chemical composition?
While fuel chemical composition is reasonably constant, air isnâ€™t. Temperature, humidity, altitude (pressure) change air composition, these modify theoretical stoichiometric ratio! This is a false problem because modern ECU has internal sensors that can compensate these variables so you can leave aside. â€¦A new problem is coming in urban areasâ€¦air pollution canâ€™t be compensatedâ€¦ help me! help me! My bike looses horse power !
Concluding with carburetion tuning, the question is how much is the right lambda (or AFR) for perfect carburetion ? Isnâ€™t impossible to predict because it depends from objective (power or fuel saving), form engine characteristics, and many other factors. Use your experience to determine right lambda (or AFR), use PKM to catch it!