That said, your driving habits alone are the biggest impact on MPG and $ saved that you'll see at the pump.
Expanding on this a little for everyone's knowledge, my personal experience is that I don't see an increase in mileage with higher octane fuel, but let me explain why...
The harder you drive a car, the more load you put on the engine and the higher the combustion pressures are (more pressure = more torque). Demanding more torque from an engine means it's more likely to knock on lower grade fuel, which means the engine will pull timing to keep the knock in check. When the engine pulls timing it loses efficiency.
This all means that a lead-foot driver that spends most of their time driving in the city constantly accelerating, or doing 80+MPH on the freeway all the time, will gain the most mileage from higher octane fuel.
In my case, I drive easier than your Grandma and my commute is mostly low speeds with the cruise control set. I simply don't load the engine enough that it's running inefficiently even on 87 octane.
My persoanl reason for choosing higher octane fuel is the car runs much smoother, especially at lower engine speeds where I'm constantly lugging the engine up inclines in 6th gear. The extra few bucks on a fill is worth it for the smooth running... $0.16/L on a 40L fill is $6.40. Over the course of a two week tank of fuel, not significant for me anyway.
Part of my brain still believes that I'm getting slightly better fuel economy with higher octane since it allows me to use taller gears and lug the engine down farther, even if the savings are not significant enough to be evident in tank to tank fill up calculations. Since I can't back that up with hard numbers, it's just a hunch.