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FWIW, here's what the 2003 Corvette Owner's Manual says:
Gasoline Octane
Use premium unleaded gasoline with a posted octane of 91 or higher for best performance. You may also use middle grade or regular unleaded gasoline rated at 87 octane or higher, but your vehicle’s acceleration may be slightly reduced. If the engine octane is less than 87, you may get a heavy knocking noise when you drive. If this occurs, use a gasoline rated at 87 octane or higher as soon as possible. Otherwise, you might damage your engine.
With that having been said, I use 91 octane or higher.
I own a gas station, and can attest to the fact that many non-Vette "premium recommended" vehicle owners don't buy premium. Vette owners tend to be religious about using the best, but lots of MB, BMW, Acura, etc. owners tend to buy regular gas, especially since the $2/gal mark was passed.
Designer Imagines A Corvette That Looks More Like a Corvette Than the Corvette
Slideshow: A Jaguar designer's personal project imagines what a modern front-engined Corvette might look like if Chevrolet revisited the golden age of the Stingray.