I just picked up a F150 Crew Cab 4x4 a couple of weeks ago. Not sure what the mpg is... I voided the warranty the first day though. It had 20 miles on it, I drove it 7 more and hooked up a 16' stock trailer and pulled it 2500 miles in the next 3.5 days. The manual said something about "no towing for the first 1000 miles". I did that in the first 15 hours or so that I had it. Anyway, our last 6 "trucks" have all been Chevy Suburban's. The F150 pulls a trailer about 10 times better than the Suburban ever did for us. On the return part of our trip we had the trailer, a 1200 pound gun safe, 30 guns, a bedroom suite, three bicycles, and assorted other crap in theree. I'm guessing the return trip at about 5500 lbs or so of trailer weight. It balanced out nicely with the safe over the axles. The truck dropped about 1.5 inches in the back when we hooked up. There were points on the trip when I would almost forget the trailer was back there. We kept the tranny in tow mode and cruised at 65/70 the whole way. Very smooth and comfortable.
Our family and friends have just had so many problems with Chevy's in the past 10 years or so that we had to switch over to something else. So far, I'm happy with it. That 6-speed tranny is nice for the highway. I pull about 250 rpm's less than my Suburban did at the same speed with more power and better towing.
NGH