I've got a 2007 SM5 and I have done, what I consider, extensive fuel testing.
I use Premium fuel for 2 reasons.
1- I've run a lot of tanks through my Spyder on long distance trips (East Tennessee to California and back, Canada and back, Kansas and back). All Freeway, mostly flat driving. I'd run 3 or 4 tanks of one grade fuel and then switch to another grade. I consistanly got 2-4 mpg more with premium over regular. Mid-grade seemed to give me a bit more fuel mileage but it wasn't enough to be sure.
Every once-in-awhile I'd get a tank of non-ethonol fuel and I'd get another 3 or 4 mpg, but that is another story and I threw these results out of my figures.
2- Knowing how the Spyder deals with knock (pre-ignition of the fuel in the cylinder).
Most people think that Premium fuel has more energy or power than regular, but that is not true.
Higher octane simply reduces the chance that the fuel charge will ignite prematurely in the cylinder and is usually needed in high compression, high performance engines.
Add high ambient temps, hard riding and other factors to high compression and cylinder temperatures can easily ignite the fuel early.
Sure, you can run regular fuel in the Spyder. If it is cool and you're not riding it hard it will work fine. Even if everything I said above comes into play regular fuel will still work, but it isn't necessarily 'fine' depending on your perspective. That is because your Spyder's computer begins to make modifications to deal with this less than ideal situation.
Early ignition of the fuel is VERY BAD for any engine and must be avoided at all costs. So, your Spyder will begin to retard ignition, this cools the cylinder, prevents pre-ignition, and at the same time reduces power and reduces fuel mileage.
Your engine is protected and it will run just fine, but you'll not get the full potential from you engine in these circumstances.
So to run premium or regular isn't really a simple question. Knowing what each fuel grade does and how your Spyder deals with it can help you make the right decision for your conditions and your style of riding.