I own a 94 first gen power stroke with a 5 speed and got rid of the front axle ttb50 for the dana 60 so now it's a F350.
It averages 17-21 mpg city hwy driving and yes it costs about 45 bucks for an oil change. But to me the money it seems to cost everyone on their 10-14 mpg F150-350's whether towing or not seems worth having a diesel with a bit more expensive parts that will last you a good 500k plus miles.
Hope this helps plus as you know you'd be able to tow whatever you feel like towing or hauling.

 

i get anywhere from 11-13, depends on my driving habits, 5.8, 3.55's, 35's, and a heavy *** foot due to the straight pipes, and my "bro" attitude

 

Somewhere in this thread somebody wanted to know what was the most reliable truck.
According to CR its the 2004-2008 F-150 with a 4.6L .
That's most reliable of all time. Wonder what mileage THEY get?

 

my 85 f250 extcab 4x4 with steel deck 6.9l idi i get 14mpg in the summer, i let it run top warm up alot now and average 11mpg and i dont baby it, or haul anything thats with 285 75 r16 cooper discoverer stt tires

 

The big red '95 F350 460 V8, Auto, 4x4 CC in my sig gets 10.
Full 10. Empty 10. Tow 10. Falling off a cliff, 10.
I'm convinced if I put it on a flatbed tow truck (where its never been) it would get 10.
I've tried baby footin' inflatin' tires to max, sythetic oil, Taos crystals.... 10.
Thats my contribution to the mpg thread.

10.... Bo Derek was a 10. Jus' sayin'.

 

my 88 f250 351w c6 3.55's and 235/85/16's get 6.8 mpg unloaded. i also need some exhaust and i dont have a tailgate.