Am I wasting my money using premium fuel? Why or why not?
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The Lexus uses the premium stuff and claims a few extra HP as a result. IMHO, it isn't worth it. We're blessed with almost 400hp...plenty to spare for most mortals - even at 14k feet. You should have seen the Rubicon disappearing in the background through the mountains...oh wait, I digress.
I found this info to be very helpful. I'm sticking with regular fuel.
The Low-Down on High Octane Gasoline
As long as your engine isn't knocking, you are fine. Run the lowest octane you can without experiencing any knocking.
I run 87 @ ~2400 ft above sea level. I've tried 89 and 91 and saw no difference.