Start with your driving habits. How/when/where do you use this truck? Is it driven short distances/2-10 miles/or long distances?
Are you an aggressive driver, or is there an egg between your foot and the throttle pedal? Are you the first or last off of a stop light?
I have done some tuning work on my pastor's old 71 ford wagon with 351 in it. He drives 2 miles to work every day. He can't get more than 9 mpg out of it. He accelerated pretty hard off of each stop, and te choke doesn't kick off until he kicks it down to shut it off.
I am getting 18 mpg highway out of a BB 427 race engine, putting out in excess of 500 hp with 4.56 gears and no overdrive. It can be done.
Devin