Sell your car, quick and buy a 5.0!
If you have a little spark knock like you describe, try another brand of 87 or some higher octane fuel.
Detonation is rapid, uncontrolled combustion usually caused by a hot spot in the chamber. You have spontaneous ignition of fuel-air mix outside of the combustion hood. This causes competing pressure waves in the chamber and is really bad for the engine.
Yours reads like a little spark knock from too low octane fuel for the amount of spark advance being set. This is usually easily cured like I note above. alot of 87 fuel sold today isn't really 87, more like 85.