Wait! Just remembered that a guy put a 6.5 GM diesel in a Camaro with a rear mount turbo system. ( 94 + up, pre LS1 car ) There should be a youTube video for that one. Looked like a pretty decent set up.
Went wrong again....................I've had too much time on my hands with the newborn and my brain is fried. The ADD just makes me as bad as a toddler some days.
OOOO, wait! Got it! Now don't laugh ( I'm already giggling inside! ), get a Quad 4 HO ( stop laughing! ), turbo and intercool that thing and stick it in the Firebird! Then lighten the car up with fiberglass doors, hood, rear hatch. I haven't seen anyone do it yet. Look, if a Quad 4 could push the Aerotech to almost 260 mph, it should do ok in a Formula. Too bad the engine sounds wrong.
The sleep deprivation is killing me....
Alright, one last shot....... LT1, .030" over, AFR heads ( new design 195cc ), CNC package on the ports and chambers, 12 to 1 compression ratio, barrier coat everything, LS1 ignition swap, ported intake, 58mm throttle body, Kooks headers, programmable efi and ignition, J+S Safegaurd knock controller, T56 swap w/ .50 overdrive gear, 9" Ford w/ 4.56s. Lighten car as much as possible. Short gears will be fun and the big overdrive will make you socially responsible. E85 compatible, so you can run it on homemade hooch.
......and I'm spent.
Seriously, you don't have to give up the fun and the fury for eco goodness, a lot of the solutions are just boosting the bottom end torque and gearing it tall. If the motor and driveline in the Formula are up to snuff, you should get mid 20s to 30 mpg out of it.
I'm hallucinating now on this one, but this would make for an excellent experiment; take the Formula and lighten it up along with full on aero mods. Keep the motor, trans and rear ratio stock, except for optimizing the programming and making sure everything is nice and fresh.
Look up basjoos and his aerocivic and see what he did.