At the Arborist site the arguement boils down to that hi test has a slight amount of anti-knock additive, thereby there is less auctual gasoline to properly product power, and less fuel means less gas to cool the piston top. I've believed that the smiggen of anti-knock additive is so small it doesn't make a difference.
They also speak of fuel mix ignition. Regular gas fires off sooner than hi-test. I'll have to reread all the post over there. I was reading them last winter. Some made sense, so need to be proved. I still use hi-test. Saws never seem to run hot. The racing 2-stroke boats use Amsoil, and claim that they reduce piston skuffing due to just being slicker, and that the pistons stay cooler, thereby not over expanding, and dragging the cylinders at hi rpms. Claim a 17% increase in power after 30 minutes of racing, either off shore, or large lake racing. A buddy has 3 V-6 hanging off his off shore racer, and he uses Amsoil. Those guy tweek that large 2-stroke outboard up to about 1000hp each. If it's good enough for them, it's good enough for my weeeee little saws........