I've just done 25 hrs in a week.
Alot of it over 8500.
Yes, it runs perfectly fine, but it's not running at it's most efficient.
You are probably throwing away a couple of litres an hour at least, at that altitude.
To know what it really should be using, the best comparison would be how much fuel an injected engine was using at that altitude.
I also think it's doesn't like burning avgas at those altitudes and egt's. It's a bit cold for a clean burn.