In the Minneapolis Star Tribune March 18, 2007 they did an article about Cellulosic Biomass. Reprint of article here:
Hill and Tillman Article
The net gain is very small for corn, but better from soybeans.
They also have been studying native prairie plants and a mixture of different types of plants out-produce both corn and soy per acre. The biggest problem right now is a limited supply of seed to re-establish the prairie plants.
Heres a good article on what they found:
Farm & Ranch Guide: North Dakota's Ag Newspaper
I think this idea builds upon a better foundation for biofuels. It decreases the competition for food stuffs, it enhances the environment, and I have reservations about using more exotics. There is most likely native plants in each region that would result in an equal/nearly equal output.
I worry that introducing another 'weed' into a region that has alternatives defeats some of the effort. Its not like corn escapes into the wild and drive out other species, a fight that is apparent in several states including Minnesota with purple loosestrife and a yellow weed that is out-competing native prairie in Teddy Rosevelt park in N. Dakota.