Always a fun conversation.
When trying to get the most HP, you want to run as low of octane as you can without detonation. That's what burns the hottest and translates to more combustion. Race fuel on a stock sled does not make sense!
I had really good luck running my Pro's on non-ethanol mode even with ethanol fuel. I ride above 10k most of the time and the ECM is already running the sled richer at that elevation. Never, not even once, did I have detonation. Sleds ran so much more crisp and a noticeable increase in power. I don't run my Axys this way because I have the SLP stage II and it just flat works the way it is setup (it also has more HP than the Pro's did).
Now, there is always the argument about reliability. The more octane, the less explosion/combustion you have in the motor (not as hot). So, yeah...it's going to make the motor last longer in identical conditions. But you won't have near as much power or fun!