That is lbs of fuel/hp/hour.
It's a good chart to see, but the real world experience say 1800 rpm is the fuel economy sweet spot.
Real world...
81 jimmy, cruise rpm was 2600 rpm. Freeway mileage was 16.5 mpg. OK, it was lifted, and running on 39.5's. Factor that in and I doubt it would have seen better than 18.5 mpg at that rpm (no lift and radials).
83 1/2 ton I also have. Cruise rpm is 1840 rpm. Freeway mileage is 24.5 on a bad day and slightly over 25 mpg normally. It is 2WD and not lifted though.
From 1800 rpm upwards you'll lose about 1 mpg for every 100 rpm increase in cruise rpm. This assumes cruise speed is roughly 65 mph.
There are other variables of course, but this is a pretty good rough idea of what to expect.
rene