Is MIDgrade (87 octane) worth 15¢ more than Regular (85 octane)?

Generally you buy the cheapest gas the car runs well on. If it says regular in the book, you use regular. The heat contenct is about the same for all gasolines. Only cars with high compression ratios and/or turbos need premium gas.

If, due to higher altitude you can use a less expensive gas, go for it. It won’t affect your gas mileage.