K&N intake and Gibson exhaust?

HI, I have a 2001 F-150 5.4 V8. I am looking to make an increase in mpg and also some ponies. I am considerinig getting a K&N intake or a similar (cheaper) one. Also i was looking at exhaust systems. I dont want it to be annoyingly loud but i want to get a deeper tone and better performance than the stock exhaust. Would a Gibson swept side exhaust be a good choice or is there something better out there? I am working on a tight budget so any help would be appreciated. Thanks