Lots of good info, thanks guys!
Some clarifications......
I already drive slow, usually cruise at 55mph.
I haven't looked in to a scanguage much, but will do so. I don't know if it would be worth it though because I'm thinking about swapping in a diesel. I have to figure a rough estimate of how long it would take to pay for itself, but I think I could pull 25+ mpg with it without any trouble, and maybe push 30 with some other mods.
I don't plan on LRR tires any time soon, the tires on the truck are brand new. Brand new as in, when I bought the truck a month ago it still had the little casting nubs on all 4 tires. They are passenger tires, but they'll do for now since I'm not hauling heavy. Uniroyal Laredo will do for now.
I drive mostly highway miles, I do mostly residential construction and most of the jobs I work on are 40+ minutes away highway driving. I'm going different places all the time, so that's going to effect my mpg a little, and I don't really have a way to do A-B-A testing because of it. Sometimes I'm at 3 or 4 different jobs in 1 day, sometimes I'm at the same place nonstop for a couple weeks, but since the truck takes about 30 gallons to fill up, I'm never in one place long enough for 3 tanks of gas of consistent driving.
As to lowering the truck, it's a 4x4 so lowering these things is crazy simple. The 4x4 and 2wd trucks use the same leaf springs and axle in the rear, but the 4x4 has a lift block. Take out lift block, put it back together with U bolts from a 2wd truck, drops rear 2" and it's basically leveled. Then I can get a set of torsion keys to drop the front 1-3" and a shackle to drop the rear, and for under $200 I drop the truck 2/4. Just wondering how much this will help me, since I drive mostly highway.
I think I will probably do the lawn edging chin spoiler, looked for lawn edging yesterday but didn't find any at Lowe's. Oh well, spring will be here in a month... How low should I go?
The cap is probably going to stay on the truck, it came with it and it's very useful for work. I considered rigging something up to leave the hatch propped part way open to redirect air when it comes off the back, but I doubt it would help much.
How much should an electric fan help on a small V8? It's not very torquey... and I could keep it if / when I swap to diesel.
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'00 GMC Sierra SLE - Reg Cab / Long bed / 4x4 / 4.8l V8
'08 Chevy Cobalt XFE - Coupe / 2.2l / 5spd
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