It advances the ignition amongst other things. To stop pre ignition you need to run 98-100 octane. So yes you get more kick and often save some mpg normal running.( Smaller throttle openings same power)but super is more expensive and if your not enjoying it why bother. None of that considers the inherent risks associated with pushing an already slightly suspect engine esp if it's old.
You need to make sure your blue knock sensors are working/present.
I'd have one tomorrow I'm a big fan of Marc Adams and will say he's helped me personally several times for free on tricky issues. But I'm far to tight.