The best way to increase fuel economy is to change driving habits, in my '96 12v stock and 300k it would get 18-20 at 70-75 mph, but at 60 mph it'll get up to 24 mpg. My half ton with a 318 will get 14 mpg flat at 75 mph, but it'll get 19 at 60. With that said we'll talk about mods to the truck.
1) Tires: Tall skinny tires aired up to the max, like 235 85 16 with a highway tread. They'll have less rolling resistance and less aerodynamic drag, even with the highway terrain they'll outperform 275 all terrain tires in the snow due to the greater pressure on a smaller area.
2) Injectors: Stock injectors are fine, but it wouldn't hurt to have them cleaned and have them pop tested. I've personally had luck with DDP3 injectors, but I'm looking at some 5x14 injectors with the correct spray pattern in order to safely run higher timing.
3) Timing: Anywhere between 16 and 22 degrees will have the potential for greater fuel economy. If still running the stock head bolts it would be safer to run around 16 unless if you over tighten the bolts like some people do.
4) Tuning the AFC: If you have amazing self control and take 30 seconds to accelerate to 60 mph then there will be no gain from tuning the AFC. I've personally found that backing the preboost screw and tightening the AFC enough to where there's barely a haze under hard acceleration to be the optimal setting. The plate position should be at a position to allow enough fueling for the boost you want to run without overfueling it, but if you're foot is pushing the pedal enough to hit the plate then fuel economy will take a hit.
5) Turbo: The current turbo will work, but an S300GX or S256 will have a better and more efficient design and would be perfect for your horsepower goals. They'll also help out while towing since your EGT will be a little cooler.
That's pretty much it, there's a few other maintenance items that'll help like making sure there a healthy supply of fuel pressure, putting in new fuel filters, changing the overflow valve, better fluids in the differentials, a cold air source for the air filter rather than a filter in the open drawing in warm air. Then there's aerodynamics and dropping weight. From personal experience we've have seen an increase in fuel economy from a port and polish along with a stock marine cam on my father's '97.