The bigger deal I have about BSFC I'd if you knew actual number for specific engine builds you could gear it for specific rpms at highway speed. My Malibu plan is to use a tall gear and overdrive to hardly turn any rpm at 65-70 hoping big block grunt will let if loaf along getting better mpgs, but that is only an idea and expensive to do 3 gear sets to nail it down. I plan on using a q jet on the 496 so it is hard to get injector pulse numbers for it.
I don't know all the intricacies that go with modern motors, but I know that on my car, that does not have cylinder deactivation, MPG is best at right around 2000RPM's, but that is at rolling speeds over about 30MPH. It would be interesting to know if there are any calculators that are capable of estimating where MPG would be best with a specific engine.
I'd be looking to see what RPM's the lightest GVW 1/2 tons were running up until model year 2000 with the 5.7L, at around 60MPH. I'd suggest the 7.4L, but part of the problem there is going to be gearing in the heavier vehicles they were installed in. With the 1/2 tons, the highest gearing offered would be more towards economy, not power. IIRC, generally it seemed the trucks were in the 15-1700RPM range at cruise, in the light duty apps.
Looks like the old 305/3.08 trucks could have been around 1400RPM at 60MPH (31" tires, 700R4), but the difference in economy between that and a 350 at the same RPM's, or even higher, don't seem to be measurable, or marginal at best.
I'm done trying to get good MPG out of trucks or old school cars with large motors. I'll never get anywhere near the 40MPG that my new car gets, and the only way to increase economy enough to be worth screwing with, seems to be by going diesel. The amount of expense necessary to TRY and get good MPG, and still not achieving it (depending what your goal is) with a gas engine, can't be recouped in MPG gains, unless you drive multiple tens of thousands of miles.
Not saying don't try, but if there was a magic bullet, GM would have used it...I don't think there is enough gain to be had to trade performance for economy. Obviously an OD trans is a no brainer, going with 2.73 gears to equal what you can run with 3.42 and OD, hurts felt power.