Matt, I'm certainly no expert. I can only speak from experience.
I only drive antique cars. I do not own and never have owned a modern vehicle (cars built after '72 and trucks built after '79). The 1995 F 150 is my mom's truck.
Anyway, I've never purchased premium fuel with the idea that it's "better" for your engine as the advertising suggests. I only use premium fuel if the engine knocks using regular 87 octane. That's the only legitimate reason to use premium, in my opinion.
Ethanol, at least here in Atlanta, hasn't caused major havoc with my vehicles with the exception previously noted. I just got home driving Ol' Roy about 100 miles today. It runs great on 87 ethanol and gets 13.5 mpg. I've owned the '56 Coupe de Ville for 23 years and it's probably gotten ethanol free gas about twice in that whole time.
I've never experienced problems from lack of lead in fuel, either. I don't run out and install hardened valve seats in my cars. Unless you're racing them, the exhaust valves will be fine without lead or lead additives.
All this talk about sooty plugs makes me feel like pulling one of mine out and seeing what it looks like. I think the truck definitely idles a bit rich. On startup itdoes blow out sooty condensation.
