A code does need premium, 91 octane, unless you change the timing. You need only be concerned with the lack of lead if you are pushing a load, as in hard acceleration or car load of people all the time. If that is the case, get a top end rebuild with hardened valve seats and valves.
The ethanol will affect your fuel delivery system. Expect to have to replace the fuel pump. Do add some stabilizer to avoid moisture in the fuel since old carb systems are not closed fuel systems like EFI types. Sta-Bil or Seafoam work best as directed. Run the car at least twice a month, with fresh fuel at least once every two months. Ethanol degrades twice as fast as non ethanol fuel. The only places I know to get non ethanol fuel is boat docks and is is about 30 percent more expensive.
