Well if you are running higher octane than is needed you could actually hurt milage and performance. Higher octane requires more spark to ignite. If you have not upgraded your ignition system and/or added high perfomance parts then chances are very good you may actually have unburnt fuel hanging around inside your motor. The best rule of thumb is to run only the highest octane that is needed to keep the motor from pinging. This will keep your motor very happy. As far as an aftermarket Cold Air Induction(CAI) system, I have put one on everyone of my vehicles to improve performnace and increase milage. I usually see a 1-2 mpg improvement so it will take some time to recoup the cost of the CAI. But it is money well spent. Your best bet is to add a CAI, headers and custom exhaust. This should greatly improve the throttle response, performance and mpg.
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