Yes, 87 octane is fine - just wondering if you got a chip..... tuners typically advance the timing for more hp and torque, which is a major reason for getting a chip? Why not advance the timing for the gains available there - cost of premium fuel?
Sorry, to get the gains you have in your head, I am estimating that I got approx. 17rhp from the PI cams an intake combo with the bulk coming from the PI cams. For proof, I had dyno'd post PI cams, pulleys and Catted X at 222rwhp and only 229 with an FRPP catback and PI intake being the components added. I also lost a couple of rwtq with the PI intake, but gained with the PI cams. The PI intake I got also has the aluminum crossover to prevent any cracking in the future.
Defiinately worth doing and please do post your results.