What gets me is I used to drive my 72 K5 with its original 350 (with over 100K on it) and with various 4 bbl carbs like Q-Jets and Carter AFB's ,back and forth to work 70 miles each way,and get a consistent 13-16 mpg with it...the commute was mostly high speed highway and some rural hilly roads,and I didn't putt along at 55 mph like I was supposed too then either (you'd get rear ended if you did!)..
I had a TH350 in it at first,them swapped in a SM465,with the original 3.08's in it I couldn't shift into 4th on hills and it lugged under 45 mph,so it probably increased the highway mpg some..
I think todays ethanol laced gas is the reason we cant get decent mpg,not so much the trucks or engines..alcohol has less BTU's than gasoline and thus runs leaner and you'll need to burn more to get the same power..also its oxogenated so it'll burn faster..probably flows thru the carb jets faster too...
I noticed an immediate drop in mpg back in the 90's when they started forcing us here to use oxogenated fuels and "gasohol"..when I drove to TN in my G10 van in 1992 I noticed it ran better and gas didn't seem to get guzzled as fast down there--not only was it cheaper than here,they still had "real" gasoline,not this half ethanol crap..soon as I filled up here it ran with less power and tended to lope at idle,and got worse mileage..