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Re: 305 v8 or 250 I6 for better mpg
If it is a street rig I would consider swapping the rear axle ratio to something like a 3.07:1, since you have a decent engine and an automatic to push it. The high revs are killing your fuel mileage. I don't think an SM465 swap would save you anything because the engine will have to spin just as much to maintain the same rate of speed.
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-Chris
Building a stripper, one part at a time: 1969 K5, 307, 3spd, 3 seats, hard top. Added Pwr Discs, Pwr Steering, Aux Battery, T-case Skid, Lighted Sidemarkers, HEI, Lock-Right Diff, ECE Class IV Hitch, 32" MT/Rs. Parts to Install: Hand Throttle, Console, Tow Hooks, Dual Horns, AM-FM, Dealer Swing-Away Tire Carrier, Gas Tank Skid.
Also building a 1950 Willys CJ-3A and off-roading a 2001 Nissan Frontier on 1-Ton Portals...
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