1) The motor is more effiecent power and mpg wise, the higher the compression you can run without detenation in a naturally aspirated engine the better.
2) You can use cheap gas without detenation concerns.
3) a. If you want torque and horsepower in a naturally aspirated combo, then the higher compression will make the throttle crisper, and increase the efficiency of the motor, the by product would be better hp and tq.
b. A lower compression motor will let you run cheap fuel, but your motor won't be as efficient, less efficient, less power.
4. see above
later