I used to get 17mpg average on the highway in my K5 with the worn out 305 and 3:08 gears...31" tires.
x2. I got the exact same mileage with the same combo. Flat ground, 55MPH, cool night, unloaded. 500 miles on one tank and it wasn't empty. Yes, the speedometer was dead on, it was stock, and I timed/checked it through the speedometer check signs just to be sure.
Loaded up with junk (1000lbs extra I suppose) as I moved across country, the same truck averaged 13MPG every tank.
I got 18MPG the last trip in my truck, but that was about 50% downhill and 50% flat.
TPI "sucks" because it doesn't flow well. Period. It was designed around a 305, and anything larger needs more air to work well. If the heads flow better, it doesn't matter, because the restriction is all before that point. The long tube runners and throttle body are restrictive. It makes good low end torque (not awesome, because the LS motors make awesome power) but at the sacrifice of upper end. I guess some people can handle running out of steam around 3500RPM, but I'm not going to lie, I don't like it, and I have 3.42's and 33" tires.
Just look at anyone making power with 383's...their either carbed, TBI, or injected, but not TPI, and certainly not TPI without serious, costly mods.