MAHLE motor sports division has done extensive testing on dynos for the argument of high octane fuel. What was found is that with the "fixed" timing on small engines, as you increase RPM, you hit a point where lower octane actually runs better.
Wrap your head around this.. at 14,000 RPM that's 233.3 revolutions per second. It's moving so fast the fuel cannot burn fully. Lowering octane causes a quicker burn and more of the fuel is burned before the exhaust is open generating more expansion and thus more power.
They also said in these engines they had a hard time generating detonation. Yes it can be done with water or other contaminants in the fuel but with clean fuel it's a mute point as the piston speed is just too fast.
The test mule was a single cylinder quad. I forget the model but the principles are the same. To get the most out of the fuel with high octane, you need more ignition timing as the RPM comes up. With saws that's not a reality that most of us can afford.