A few things:
A micropohone and an accelerometer are virtually the same thing, one is excited (or accelerated) by sound pressure waves and the other by physical motion, whether it be vibration (harmonic oscillation) or a single step input (bump, shock, etc.)
Either way, the computer can detect engine knock and retard the timing automatically, but this comes at the drastic reduction in performance and fuel economy.
I live in CO (Denver area ~5300-6000 ft.) and I run 87 octane just because I want the better performance and fuel economy of higher octane. Premium fuel of 90 octane or higher doesn't result in much of a performance difference or increase in fuel economy for me, so I know that the 87 is working just fine. I don't think would run 85 octane in my '05 V8 because I don't want the engine detonating at high rpm even if the computer can control it or not. If I lived at lower elevations, I would definitely run premium fuel.
I think living in CO and higher elevations >4000 ft make it easier to run a lower octane because the air is less dense up here. Atmospheric pressue is around 2 psi lower then at sea level which in turn results in less compression of the air/fuel mix (hence, less horsepower at altitude) Since the pressure during the compression cycle is less, the air/fuel mix heats up less and is less prone to detonating before the spark.
Remember- the only thing octane does is raise the combustion temperature of gasoline...NOTHING ELSE!!! It doesn't clean your engine, it doesn't add horsepower. Plain and simple if you have an engine with lower compression then run lower octane. If you have a high compression engine then run premium. The 4Runner is somewhere in the middle, which is why Toyota recommends 87 octane.