Extragoode,
If you
must change gearing, then do both diffs ($300x2) with the
tallest ratio you can find and save low range for hauling heavy stuff & in the rough. If you do only rear diff, you will screw up your 4x4 system & make truck unsafe. Tall tires ($350-$500), complete tuneup w/synthetics ($100-$200) & weight reduction (FREE!) are the least expensive fuel savers besides driving slower & less often.
I have an '06 Ranger with the 3.0L, 5-spd auto & 4.10's. I need low gears for towing & 4x4 for the farm. Ranger now has Continental SUV tires 235/70R16 @40psi yielding 23mpg w/o topper or trailer. I plan to install 235/85R16 D or E highway tread tires when needed as I mostly haul
BIG loads over long distances.
For the cost of a set of truck tires, I bought a Metro for $450 that gets twice the mileage as my $20K truck and use it for daily commutes. This works best for me and saves the most fuel for the money when I'm not hauling a load. See pic.
Good Luck,
Cowspots