Anything that runs on 87 at sea level can run 85 around Denver type altitudes. The thinner air means less air mass in the cylinder stroke thus the compression ratio is reduced. The need for higher octane is strictly to deter engine knock and that is typically a function of the compression ratio of the engine. Higher compression is typically higher performance and requires higher octane for the ratio not the "performance". Thus less air means the grade of performance for each octane level at the pump is typically reduced. IE "regular" is 85 instead of 87.
In turn the reduced air mass means lower power out of the engine but that is regardless of the gas used.
Pods the compression ratio doesn't change with the air mass.The compression ratio is set according to the capacity of the cylinder volume to the combustion chamber capacity in the head.It's the file/air ratio that changes from sea level to higher altitude.That's why carburetor-ed engines don't run 'as well as fuel injected ones at high altitudes.
I wouldn't want to use 85 down at sea level most likely hear a lot of knocking under power up hills.I even saw high mixes of Ethanol on the trip some as much as 85% ,which came from a different nozzle of the pump.The normal mix that was used was 10/15%.
Frank