As far as premium fuel goes the higher octane is used to help prevent knocking/detonation. You can use lower octane fuel (many people do), but you increase the chance of real internal damage to your engine. For myself, I don't risk it where my GTE is concerned. It's a little more expensive per gallon, but less expensive than replacing pistons, valves, etc.
Not sure about the wiring issue, have to look around on that one.
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