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Realistically, you're better off having two vehicles, but if you are dead set on a full size truck, there are some options that you can realistically get over 20mpg in.
The difference in mileage between a V6 and the small V8s in most trucks is minimal, but you might get a little better by sticking to the V6 if it works for you. Especially since those were a little more likely to have manuals (No manuals offered in new 1500 trucks, only 2500 and up now). In my case, I needed more towing capacity, so a V6 was off the table.
When I was looking for a truck, I was able to find a decent number of '97-`03 F150s with 4.6L V8 and a manual. I decided against the Ford since everyone I talked to was dissappointed in the actual mpgs they were able to get out of them. That may or may not be accurate, but it was enough to steer me away at the time.
I ended up with a Silverado (see thread in sig) that I now regularly get over 20mpg when I'm not towing/hauling stuff. 4.8L/Auto 2wd. It's mostly stock with some minor tweaks.
Big Dave is getting high 20's (27 mpg?) with a 2WD F350 Diesel with a manual and airplane gears in the rear end. I think it would take some effort to replicate his results, but it could be done.
If you don't really need the full size truck, Ford Rangers come with a 4 cylinder and can get pretty good mileage stock. Same with S10s (I was getting over 30mpg in my old '98 S10 with no mods of hypermiling tricks).
I ride a motorcycle in the drier months which helps offset my fuel consumption, although, even that isn't as cost effective as I'd like. I've been considering a different bike or maybe a Civic instead for most of my commuting.
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