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Octane alone doesn't give you more power, but race gas DOES give higher horsepower. It's the formulation of the fuel itself. Higher octane can give more power if detonation is the limiting factor, but for most cars that isn't the case.
Most fuels with much higher octanes are racing gas, it's probably tough to find gas that is above 95 octane that isn't race gas.
My Spec Miata got about 1.5 more horsepower just from using 100 octane unleaded race fuel. That's not much, but in a class where every car is really closely matched, it was worth the $9 a gallon to use it. Would you notice the difference in our cars on the street? It's doubtful.
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