i would definitely start with checking for vacuum leaks. usually when an engine won't hold an idle its because of a vacuum leak. what does ur exhaust smell like? can u smell raw fuel? about 6 months ago i had a similar problem, but it wasn't a vacuum leak. my computer took a dump on me. the ignition module, distributor, and stepper motor (on the back of the carter carb) all run into the cpu. I had to splice the ignition module wires and the distributor wires together, manually adjust the stepper motor to a permanent position and unplug it from the cpu. Its referred to as the nutter bypass incase you end up having to do it. it pretty much makes the ignition system similar to a cj setup. best of luck.
oh, and btw, the octane rating on fuel just lets u know how much compression/heat the fuel can endure before combusting on its own. high performance cars need higher octane because they have much higher compression ratios. if they used 87 octane, the fuel air mixture could easily combust before the spark plugs fire, resulting in "knocking" and further damaging the motor. just stick with the recommended octane for your engine and you'll be fine. just an fyi. later.