At the moment I have a 1983 K5 6.2 700r4 3.08. I get around 16-18 city and 20+ freeway. I usally drive in 3rd at 50 mph, and 4th(overdrive) on the freeway at 70mph. With the 3.08 gearing it seems to lug the motor alot. Even cruising in 3rd at 50mph, i'm turning 1669 rpm and my TCC Lockup kicks in and lowers it to around 1450 (Yeah I have Lockup in 3rd too). On the freeway it turns 1636 at 70 in overdrive and lower when TCC locks up.
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6.2 is most efficent within the 1800-2100 RPM range.
Actual fuel mileage is going to vary depending on how hard the engine has to work on hills, and with altitude you're driving in.
I've got over 20 diesel Blazers and trucks with all sorts of combinations of gearing.
One example is my favorite K5 diesel mini-motorhome. 86 K5 Blazer with a pop-up roof camper body. Weighs 7500 lbs. and is driven a lot in the Adirondack mountains.
When it was a bare Blazer, with stock 235/75-15" tires, 3.08 axles and 700R4 trans it got a best of 21 MPG. Even on slight hills, it would shift back and forth out of 4th OD to 3rd and lugged a big.
I then drove it for a year with the lockup totally unhooked. Drove much nicer but best mileage dropped to 19 MPG. No more lugging though.
I then put wide 33" tires on it and mileage dropped to around 18 MPG.
I then put stock 15" tires on again, along with the extra weight and wind resistance of the camper-body. I also hooked up the lockup again. Got a best of 16 MPG.
I then ripped out all the axles and installed 3/4, 8 lug axles with 3.73 ratio. I also installed a 4L60 trans that only has lockup in 4th, and NOT in 3rd. The 16" E-rated truck tires are narrow and 30" diameter. I also added a Banks turbo. I'm now getting 16 MPG as before, but with a lot more power and I can cruise most hills in 4th OD.
I'd say a bare K5 Blazer with no turbo and overdrive/lockkup does best with 3.73s.
With a turbo, overdrive and lockup 3.44s are probably the best overall.
My best fuel mileage 6.2 is my 1982 K10 4WD pickup with 3.08s and a four speed manual trans with overdrive. It is pure stock just as it left the showroom floor. I've gotten 24 MPG on flat highways with high-sulfur fuel. It is useless though for any heavy work. Good plow truck though since I can use low-range when pushing snow.
I would't want 4.10s in anything unless it's a tow vehicle. I've got two diesel Ford F250s with 4.10a and wish they had better low RPM gearing. My 92 Dodge-Cummins has 3.50 axles and will outpull my Fords and gets near 20 MPG. Pretty good for a heavy 3/4 ton truck with 4WD, extended cab and an 8 foot bed.