Well sir... This is how I've always figured it:
If the car requires it, use it. In the long run, it's a lot cheaper to use the required octane fuel.
It costs me an extra $2-$3 a tankful. For argument's sake, let's say $4.
At an average of 400miles per tank, 100K miles comes at roughly 250 fill-ups. 250 fill-ups at say $4 dollars extra per tank, is $1000 dollars over the course of 100000 Miles. That is still cheaper than having to rebuild the engine because of a bent connecting rod that gave out because of detonation from using an inferior grade of fuel. And that's at 4 dollars difference. What if it's only 2? Besides, if the car asks for premium, and you put regular in it, your mileage may (and most likely will) suffer as well. Once again, in the long run, that could end up costing you more.
I never understood why we are so upset about gas prices. Granted, even I complain about them occasionally, but then I see someone paying $1.49 for a one liter of pepsi, and realize that his pepsi is still more expensive than the fuel he just complained about buying.