This topic comes up every once in a while and it's always funny to see what people think about this issue.
First off, high octane will do nothing to improve peformance of your engine if the engine doesn't need it. Octane is not some energy boost for your engine. Nor will octane help your engine run cleaner, or anything else.
Nor does it have anything to do with a lead replacement. Lead was added to gas years ago to act as a valve lubricant, and to (supposedly) protect valve seats. Today's cylinder heads are such that they have hardened valve seats and coated valves and do not need lead or any sort of lead replacement. Even my 75 Triumph which supposedly needed lead in the fuel does not need lead as it turns out.
Octane works simply to prevent premature detonation of the gasoline during the compression stroke of the engine. Gasolines with lower Octane will fire during the compression stroke slightly ahead of the spark plug and the result is engine knock which is very very hard on your engine.
Basically, there are two things that as far as I am aware cause knock. 1. is higher compression ratios, and 2. is if the timing is too far advanced. Compression ratio is not adjustable it refers to the ratio of the volume in the cylinder when the piston is at the bottom of its stroke verses the volume in the cylinder at the top of its stroke. You will hear, "it has 10:1 compression" for example. The higher the compression the more the need for high octane fuel.
Timing. Advancing the timing is a great way to get more peformance out of the car. Timing is variable (unlike compression). Used to be with distributors you set the timing at idle and then there was vacuum advances (or even vacuum retards in the case of my Triumph for example), and centrifugal weights inside the distributor all of which varied the timing as you increased or decreased the RPM's of the engine. The faster the RPMs the more you want the timing to advance for better performance. Problem is, as you advance that timing, you need the higher octane fuel to avoid that premature detonation problem and the resulting knock.
So, bottom line, does your car need premium or not?
It depends what the manufacturer says.
If the manufacturer says you need a certain Octane rating then that is what I would use. If they say it will run fine on regular 87, then it will run fine on 87. Putting premium in is a complete and utter waste of money.
If they say it needs 90 Octane, then it needs 90.
The manufacturers are not in bed with the oil companies.
If you put 87 in a car that needs 90, the engine will knock, the knock sensor will sense the knock, the computer will retard the timing and your performance will definitely suffer, though you probably won't be aware because the car will "appear" to drive normally.
Follow what the owners manual says.