I'll second what others have said, unless you have a way of controlling turbulent flow under the truck body you are better off cutting off the flow with a massive chin spoiler of some type.
I did this very thing with my 4x4 S-10 and saved 3 mph on the highway. Simple as screwing a 6 inch garden plastic trim piece to the bottom of the existing valance.
I'll post photos of the project soon......EDIT, I now have +5 posts!
Link:
http://forums.pelicanparts.com/off-t...effective.html