2.38% more power on 93 vs 87 octane.
The study correctly concludes that most drivers will never feel a 3% increase in HP.
However, the study fails to mention that under different environmental conditions the increase in HP could be greater. The study also does not look at how octane impacts torque numbers at different engine speeds.
I know that at <2000RPM my engine sounds and feels much much happier on premium.
At 10-20c extra/gallon, I will continue occasionally fueling up with 89/91 octane on hot days when I want to get the most out of my engine.
source (AAA study):
http://newsroom.aaa.com/download/9650/