My dad had a 76 Charger that got 20 mpg on the highway stock.
I did it in my '79 360 Dodge Magnum. More on it later........
I was reading a tech book by Larry Shephard where he stated that the original cam from the stock 360 2 bbl was the best cam for fuel economy. It has 252/258 intake/exhaust duration and .410/.412 lift. I haven't gotten to try this cam yet personally, but am looking to find one and try it in the future.
Thats the cam I had in the engine, being it was an OE 2bbl.
if you can afford them for good exhaust flow. Definately use dual exhaust.
I used duals off the exhaust manifolds.
So quick in a nut shell. Run the stock 360 cam and put a 4 bbl dual plane intake with 600 cfm carb and run electric choke and electronic ignition and 2.76 axle ratio. This will give nice driveability even in winter and good fuel economy maybe 17 to 21 MPG in your lighter a body (if you control your urges to put the pedal to the floor). You won't get good gas economy if you keep putting the pedal to the floor. Use self control if you need the economy.
This is basicly what I had in my Magnum.
OE air cleaner the unit with the trap door/flapper in the pan. Off of a 340. Also a K&N filter. It was on top of a iron '79 egr equiped 360 intake and a Carter 625 AFB. Dual exhaust off the OE manifolds @ 2-1/2 with an H pipe into twin cats (Needed at the time) & Thrush mufflers. Pipes to the bumper.
I picked up a junk yard electronic vacuum advance distributor and use a Chrome box. While the box was good, I switched over to a MSD for added mileage. No real performance gain in high speed, but mileage did indeed improve.
With the 2.76 ratio and 235/60/15's on all 4 corners, 20 mpg's was doable with a light and constant foot.
IMO, mileage improvers to the combo I had would have been;
Aluminum LD340
Headers
(In a E or B body, the super comps do not hang low or run under the steering linkage.)
A head milling for a higher comp ratio. The OE 7.8-1 was bad. A 9.0-1 would have been much better.
An electric fan over the MP viscous could have show an improvment.
Taller tires. I would have like to try 255/60/15's at the back.
IDK about a set of Rhodes lifters helping much here being the cam is small. Maybe, IDK, the price of lifters and gaskets is under $200. You could try it! The experiment could show something maybe?