Here's the article someone mentioned documenting mods on an EFI 460:
http://performanceunlimited.com/projectmpg/results.html
I get about 11.5 with mine, 50-50 mix of highway and town driving, 7 to 8 when I'm towing a loaded flatbed or our horse trailer (it's tall, lots of wind resistance!)
Headers and exhaust got me about 1/2 MPG, switching lubes- to Mobil 1 synthetic 10W-30 in engine, Redline synthetic D4 ATF in tranny and synthetic in axle got me another 1/2 MPG, advancing the timing as much as possible, improving the cold air intake AND burning regular got me another small improvement. Blocking the EGR made the engine ping and run awful, I put it back. Changing the catalytic made no mileage difference at all.
So I got maybe 1-1/2 MPG improvement total with bolt-on mods- Hey, that's 15%!
Even though I've got a fancy new PSD, I still love that 460. Comfortable, reliable, smooth, and it hauls @ss. I'm going to keep it forever.
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2002 F-250 S/Cab Short Bed PSD 4x4. SCMT +80 HP, AFE Magnum intake.
1996 F-250 S/Cab Long Bed 460. E4OD auto, 4.10 posi, Air-Lift suspension, K&N filter in modified intake box, modified ignition advance curve, Edelbrock 2x61 mm throttle body, L&L 4 into 1 headers, slightly milled heads, 3" exhaust system, cat & Flowmaster 70, modified MAF meter. 7,700 lbs GVW, 5,700 lbs empty. {E\...F}