your rear gearing will impact mileage the most. match your gears so that at whatever cruising speed you choose the engine rpm's are 2500-2700. I know it sounds backwards like the rpm's should go lower to get better mileage, but it's true. Your optimum volumetric effeicency is what you're looking for. It also makes less work for the engine when starting and stopping.
You should be able to get the whole thing said and done for around $500. You will have to decide if it's worth it in gas savings. You should also factor into that equation the fact that your truck will be so much more fun to drive.
I run 305/65-17 about 32" tall, with 4.88 gears. I'm running about 2750 rpm at 75 and get easily 17, if I baby it I get 20. Mashing it I get 15. Zero aerodynamics in place, no bumper valance, no bed, Tires pushed out 3.5" perside with Long Travel suspension, etc.
Also have
Long Tube header, fabricated my own mufflers and true dual exhaust. Bypassed the coolant to throttle body, DirtydeedsIndustries.com
electric fan conversion, etc. Here's a video on the dyno.