Yes, it is.
Keep in mind, though, that the "reduced performance" applies to mileage as well as acceleration. I wouldn't recommend using regular fuel as a cost-saving measure, since any savings on the price may be more than offset by a decline in mileage. I would only use regular if you're out in the middle of nowhere and all they have is regular, to keep from getting stranded.
I would agree with Ken on this but that would be when the difference in cost between regular, silver and hi test was a few cents - now with hi test costing as much as 15+ cents more per or maybe 20 - it may not prove out to be a trade off for the additional expense of hi test. I did a fuel comparison test as a science project cents per mile and miles per gallon - back when the difference was very slight for the cost and hi test was 100 octane - it's not like that anymore. I very much doubt a test like that would find that hi test was less "cents per mile".
Just a guess but you will of course realize a loss in performance. But for most in town driving on a daily basis if you have 89 octane as opposed to 93 - will there be a big diff - I doubt it. We have 87 - 89 - 93 here in GA and around town we have 10% ethenol - that has lowered mileage too - so how can we tell in a major metro area? Gotta get out there in the boonies where there is no requirement for ethenol. Then you might see some difference. Go to the airports - small local one- and get some flight fuel - might see a big difference there.