Most Honda cars I've seen, including my own, recommend Premium over Regular for some reason. However, I've been running Regular in my Accord for about 4 years (since I got it) and it doesn't seem to mind at all. The only time I was told to ever really be careful about not using premium is if you have a high performance engine either with a high compression ratio or if it has a Turbo/Super charger attached to it because these parts will get destroyed otherwise because of the compressed air being forced into the piston and raising the cylinder compression (I think that's right anyway).
Generally for oil, I stick to what the book says. My friend who is a Lexus/Toyota mechanic said that 5W-20 would be ok, but it's sort of 50/50 if there will be any problems caused by it.
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