I had a 74 4WD Reg cab long bed with a 360, and I would have been very happy to get 9mpg! Between the 360 being so thirsty, and the gearing, I would pull about 7.5 - 8 mpg. I sold it and purchase a mew 76 Tradesman Van 318/727 long wheel base and averaged about 13 mpg. I use to cal it my economy car.
Swapped in a 625 AFB, a 360 kickdown linkage, an Edelbrock Street Master manifold, set of headers, and an RV cam, and it gave me a little more performance, and about 2 mpg more!!!! I was livin'!