My understanding, there's a few percent to be had with slightly advancing ignition timing and maybe leaning out the AFR slightly. Advancing timing under full load will deliver both power and economy, but will be harder on rods, pins and bearings. Doing so at low load should be safe but increase NOx in the exhaust.
One does not need premium fuel to advance timing at part throttle, it's only at WOT that it makes any difference.
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