It's pretty hard to get access to the bottom of the tank,(where the water is), when the tank is full but if you can get a hose in there to the bottom and syphen some into a jar and let it sit for half an hour you can see if it separates.
Might be a good idea to add a Racor water separating fuel filter ahead of the engine. They were not completely necesary before the E-10 but I feel they are now. Get the one with a clear bowl and 10 microm filter and you will sleep better at night.
Coincidently, my neighbor showed up late last night with a Regal 2150. I haven't talked to him yet to get all the particulars but it looked pretty nice.
Clear bowl (plastic) is a no-no with inboards...only OK for outboards....inboards you need the metal one with the drain on it....
There are test kits where you can test the fuel for water...I just take off the fuel filter at the end of each season....dump the gas into a glass jar and let it sit...so far no water even tho we have had E10 for a long time now....about the original question....gas gauges in boats are notoriously inaccurate anyway so unless you have opertional difficulties I wouldn't worry about it....if you had phase seperation for sure you would know something was wrong....
BTW, Sierra sells a 10 mircon fuel filter that's a lot cheaper than the Racor and works fine...doesn't hold as much water but I've had good luck with them....I did actually get a Racor with the metal bowl....I'd try it next year....but for the money the Sierra 10 micron ones are great.