Hey, kinda late to the party, but since I like that 300ci straight six, and that it has EFI, I think you can get that 20 mpg out of it. I would either a) get an adjustable timing set or move the stock set around until you get maximum cranking pressure with the stock cam or b) get a proper camshaft that will boost the torque without freaking out the computer ( Clifford Research, Crane, Comp, somebody should have something that doesn't require a ton of spring pressure and keep her smooth and civil ). Next would be a header ( I don't know if it's true but they can be a pain to install with EFI but worth it ), high flow cats, going to a quiet, high flow Donaldson muffler ( straight through, cheap ), 2.5" pipes from header to cats ( I believe it's a split dual style ), merge to a large diameter single pipe to muffler. Tuning is everything at this point, find out what the A/F ratio is doing, start doing timing adjustments ( I guess you're running 87 octane, so I know with the chamber in that head you can't get too frisky without her rattling ). Wonder if there's a way to tune that EEC IV?
Add an MSD 6 box and coil.
Wish the EFI was a sequential unit, I think it's batch fire, but I don't know if it would be any consequence. You need a wideband though. I believe that the trucks are tuned on the fat side so that the sucker doesn't melt down when she's working.
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