Ok, maybe one effect. Racing and fooling with old cars is a disease with no cure and that's why we're all here together in the HAMB asylum. It's crazy fun.
I dont recommend lead but i do recommend 90 octane/ethanol free gas if ever possible. Ethanol is bad for even new cars...
Lead Additives is the Biggest Gimmick ever to push Products, If you have and Engine with Non-Hardened Seats Which Run Bad Timing and Drive Combustion Temps up you make Seats Softer, Period. Thats the wear Folks see. Lead was added for Octane Boost, Period. I can't believe this Day and Time how Lead as a Wive's Tale is Pushed, It's Poor Tune-ups that Kill non-Hardened Seats.
We had a salt car losing traction around 220mph. Lead was added to the rear of the car. This is the only example I have seen in my experience that a lead additive works.