With 16% you can remove an 0.1mm shim.
Yes, most engines run quite well on 16%, in the past with an 5 minute qualify people were using 20% to get 5 minutes, mostly they mixed 16 and 25% to one fuel.
I have runned a clubrace on 16%, it differs 0.1 up to 0.2 seconds a lap but for most drivers that is almost no loss.
It saves money, it makes more runtime on a tank but do not imagine the lifespan will be better, as you said the engine still screams and that is taking lifespan.