I really can't tell you a definitive answer about the oil ratio but if you don't mind some oil dripping and muffler drool you should be okay. I took a picture of the bottom of the air intake pipe where it meets the carb. At 50:1, there is oil dripping from the bottom of the pipe. It was about 2x as bad at 40:1.
As far as the fuel consumption, I get between around 80 to 90 minutes of run time on it's .686 gal tank. If you don't need the air volume and you want more speed and scouring ability order the 570 tip for the tube. It's part # 576 58 18-01. You didn't ask me specifically but I paid $570 out the door for my blower.