Let me repeat....the 2000 and later Northstar are designed and tuned to run on regular.....that means that you can run them on regular will little or no concern for power loss or loss of fuel economy.
I am SURE that it is OK to run a 93-99 Northstar on regular. If you doubt this, check the owners manual for the 97 and later Northstar engines...the fuel requirement went from premium "required" to premium "recommended" and the "premium required" nomenclature was removed from the dash and the fuel filler cap (except for the Eldo....the nomenclature stayed on the dash to avoid retooling the dash cluster....regular is fine, though).
A 93-99 Northstar is designed and tuned for premium fuel. Running mid-grade or regular fuel will likely result in some spark retard from the knock control sytem and under extreme conditions (hot/dry, very very cold) there may be some transient spark knock evident. That will not hurt anything but there is just too much spark retard required to prevent all the detonation under the extreme conditions.
The fuel recommendations always allow for producing maximum power under all (including worst case conditions). If the knock control has to retard the spark then it will not make maximum power... The worst case for detonation is hot/dry ambient or very very cold/dry ambients. In these cases the 93-99 engines need premium. If you are going to tow a trailer thru Death Valley in the summer with a 93-99 then use premium. For back and forth the work in the spring and fall in Michigan....regular will likely work fine with little or no spark retard and no detonation or driveability issues. I usually say that the 93-99 Northstar is "happy" 40-50 percent of the time on regular and the rest of teh time requires mid or premium to make the ultimate power.
The 2000 and later Northstars are "happy" 80-85 % of the time on regular. They will still like mid or premium under worst case conditions to make max power. If you are towing that trailer thru Death Valley with your 2000 or later I would still recommend premium for max power and the least amount of spark retard as the engine runs warmer. If you are going to the track for a day or racing your buddy put premium in to assure best power if the coolant temp comes up. Otherwise regular is fine.