I did some quick "internet research" and came up with these figures.
Alcohol has roughly 656.25 Btu's per ounce.
A mixture of propane and isobutane has roughly 716.33 Btu's per ounce.
That works out to a ratio of 1.09 : 1 for "canister gas" to alcohol.
But it has been my experience that I can boil 2 cups of water in half the time using a canister stove versus my alcohol stove.
From the above figures and what I have gathered from these forum posts if I adjust my canister stove for "efficiency" everything seems to equal out. If I carry 12 ounces of alcohol in a 1/2 oz container with a 1.5 oz stove my total weight ends up being 14 ounces. If I carry my 2.5 ounce stove with 8 ounces of "canister" gas plus approximately 4.5 to 5 oz of canister my total weight is 15.5 ounces. I don't really notice a 1.5 oz difference in wieght but I do notice the quicker boil times.
My 12 ounces of alcohol gives me approximately 10 "boils". From what I have gathered form these and other forum posts an 8 oz canister of fuel can yield 30 or more boils if used efficiently. What I gather from all of this is that I can boil my water quicker and get more boils out the canister gas than I can out of my alcohol container.
For me the final outcome is that for no real weight penalty I can do more boils quicker.
Curiously 12 ounces of alcohol versus 8 ounces of canister gas works out to a ratio of 1.5 : 1 not the 1.09 : 1 of the Btu values from above.
Subjectively, I believe that I will be happier with my canister stove.
Objectively, I believe that the plus' and minus' of the two systems cancel each other out. That being said I know that there are diehard fans of alcohol stoves and just as many fans of canister stoves.
The single main advantage to me personally is not having to deal with a toxic substance on the trail when Everclear is not readily available and DNA must be used in its place.
Party On,
Newton