[Christ]

Surely you could just fix whatever the issue is that's causing it to ping. Probably carbon buildup or something stupid.

The car was designed to run on 87. If it can't, there's something wrong. Your timing is probably somewhat out of spec, especially if the timing belt is worn. You can probably get away without changing the timing belt (I don't agree with change intervals), but the more it stretches, the further out your ignition timing will be (I can't remember which direction it alters the ignition timing, I think advanced.)