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would the almost 2% increase in octane rating make that much difference?
Before I had the crowns of my pistons cut down (they were higher than stock) on my T3, it knocked badly. I retarded the timing a bit, and yes it did help reduce pinging, but it was VERY hard to start, hot or cold. Definitely less power too. Then I put the timing back where it belonged, and the starting improved, power came back, and I used octane booster until the next winter when I'd have time to pull it all apart and remedy my too-high compression. I don't think you'll be happy with retarded timing, even if it does reduce your knocking/pinging.
Yes.
Exhaust valve leakThis is an issue, prove it with leakdown tester or compression tester now (pay a mechanic for test before ripping to bits if you can't borrow one)Leaking valve will eventually burn out completely, to reseat refaced valve will cost sixpence, a few quid for a valve if you need it, can get exy after damage is done, esp if head falls offThat could already be your pinking problem, if one cylinder is only half working, of course it will pink
If the valves are blowing by will a lap in be sufficient or will the seats need re cutting?Of course it depends on their state when removed, but I'm thinking best case here.What sort of wear should I expect since the engine has been run on unleaded?
Could have something to do with lead in it maybe?