mileage, well it depends on what its built for.
first got it, 400sbc tired, 0 oil pressure in the summer, with q jet 31" 4.88 gears stock 4 speed never saw 55 mph. i got 12 at its best. also changed to 33" tires in there.
next was built 406 sbc cammed, port polished, roller rockers, etc...
got 6-8 mpg on the same setup. I drove it daily for three years.
she was totaled just over 1.5yrs ago, now she is built 406 with th350
and not completely streetable, couple bugs left. and new axles with 3.73 and 30" tires. Same cruiser just lost the front sheetmetal and frame, swapped in a new chassis and axles and sheetmetal.
She is now so squirelly that i cant keep my foot out of it. no mpg to report yet.
I have cracked three ram horn manifolds, buddy has two, run the block huggers, i am going to try the fenderwells soon. plus it feels like you in the bbq with those ram horns.
I could spend $300 a month in gas and repairs, for what insurance difference was for anything else i would drive. I didnt spend anywhere close to that, it was built to be cheap and powerful.
run the 400 as a 400 if not sell me the block. 383 lame excuse for the 400.
stock GM motor setups could get you very good gas mileage. tbi or tpi setup to 700r4 would be nice. dads stock 87 burb with tbi and 700r4 gets 12 to 14 city. closer to 18 i would think in a cruiser.