There are many made for higher grade fuel but they work, without knocking problems. I've seen a vitz knock as bad as you've described, and yet another one that I never heard knock, not even once. Even in our own pkdm cars, I have heard Xlis knock, and yet others that dont - all on regular fuel.
Also, on a 150K driven vehicle, you sure can suspect the o2 going lazy if not outright bad. Which is another reason I would go for detailed diagnostics including live as well as recorded data during a test run.