I found Higher Octane fuel definitely loosens up the top rev range, but I don't get any better MPG, if anything 95 Octane can make your engine slightly more economical and give you better response at low revs. (that is if you are driving for economy)
A couple of years ago EVO included a GTI on a fuel test and found that 197 hp was conservative and it was more like 212 hp with Tesco99.