I am a chemical engineer and have had to research much of this in my living, but also with regard to boating.
Separation is very situation specific:
http://www.epa.gov/oms/regs/fuels/rfg/waterphs.pdf
It depends on humidity, temperature swings, usage, system design, and whether the tank is maintained near full. Some will have troubles and most will not. I have had two outboards that have been trouble (one repeatadly until I added a separating filter, the other until I learned to keep the tank full and vent closed), but every other outboard (2) and every car and appliance (5) have been trouble free. It just depends.
Symptoms? Hard to start (or won't start) and then runs very rough until the lower 20% of the tank is burned or the whole tank is burned. Some have also had troubles with fuel system components, depending on design.
Some links I posted:
http://sail-delmarva.blogspot.com/2010/04/epa-memo-on-e-10-and-phase-separation.html