This article is from the Gasoline FAQ, by Bruce Hamilton with numerous contributions by others.
Not if you are meeting the octane requirement of the engine. If you are not
meeting the octane requirement, the engine will rapidly suffer major damage
due to knock. You must not use fuels that produce sustained audible knock,
as engine damage will occur. If the octane is just sufficient, the engine
management system will move settings to a less optimal position, and the
only major penalty will be increased costs due to poor fuel economy.
Whenever possible, engines should be operated at the optimum position for
long-term reliability. Engine wear is mainly related to design,
manufacturing, maintenance and lubrication factors. Once the octane and
run-on requirements of the engine are satisfied, increased octane will have
no beneficial effect on the engine. Run-on is the tendency of an engine to
continue running after the ignition has been switched off, and is discussed
in more detail in Section 8.2. The quality of gasoline, and the additive
package used, would be more likely to affect the rate of engine wear, rather
than the octane rating.
 
Continue to: