The most efficient you'll get is keeping it in factory tune. I get 19 mpg with my 1988 N/A 7M-GE during in-town commute (25 miles a day, stop-n-go), and have gotten 27 mpg highway travel on road trips. The only thing different I've done is an exhaust upgrade, but still have the factory cat and factory intake system on it.
The engine is so peppy, I barely use the gas pedal to maintain the normal 70 mph highway speeds here around Atlanta. I keep having to be mindful of the speed, because this car hits 90 mph real quick, and GA has a new super-speeder law and aggressive cops.
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