I get about 16-17 mpg on a daily 52 mile each way highway ride with the 5.4 in a 2001 supercrew F150. I drive it fast, not babying it at all. Towing a aprox 5000 pound travel trailer I got about 10 or 11 mpg on a long trips ( NJ to FL) , 5 passengers and a load of junk in the bed too. The truck is nice and peppy, and plenty powerful for my towing needs, I can do the speed limit with no problem with my trailer.
125,000 miles on the engine, it runs just like new and uses no oil, though I did manage to eat the pinion bearings in the rear end last september on a trip to Ohio, I made it home but the rear was howling, $700 later it was back to normal :-( I was not pleased. That's the only thing on the truck that gave me any trouble so far though, I did change a set of tires and the brakes but that's to be expected.