There is no better carburetor for a truck than the Quadrajet, period.
Street, wheeling, whatever, it's the best.
I averaged 12-15 mpg with my K5 when it was my DD (383 CID V8, 5200 lbs, SM465/205, D60/14 bolt, 4.56 gears, 4" lift on 37's). It ran ~3000 RPM at 70 MPH which is pretty high RPM for a V8 and still got reasonable mileage because of the carburetor. I spent quite a bit of time/effort with an O2 sensor to tune the motor.
There are tons of people out there who buy Edelbrock and Holley carburetors because they "work out of the box". They don't. Nothing does. Every motor is different; altitude, cam, heads, intake manifold, exhaust manifolds, etc. change the air/fuel requirements of a motor. Every carburetor has to be tuned to its individual motor or it won't deliver air/fuel correctly.
You'll hear about tons of people with aftermarket carb equipped K5's getting 6-10 mpg, its largely because their carburetors aren't tuned right. You simply can't bolt on a carb and expect it to work correctly.