If you read any of my post on my Titan the MPG is the sore point. Thats where it ends. I have averaged 14.3mpg tank to tank with 33" mud tires, 2" lift, and 4.10 gears. It is what it is. Most of my F-150's got right at 15.5mpg average tank to tank. My Dodge Hemi was 12mpg. So its right in the middle.
As for towing its right at 9mpg pulling 9,700# which I did over 5,000 miles last summer though out Indiana, Ohio, Kentucky, Tennessee, Illinois, Michigan, and into West VA. It was around 11mpg the summer before pulling 7,000#. When I tow about 1/2 the time we are running in groups of 6-10 guys with trucks of all different brands pulling similar sized boats. I can plain stomp all over most everything gas when pulling hills. Accelerating off a interstate on ramp we leave the one guy with a GMC 5.3L 3.42 geared truck a 1/4 mile behind pulling 2,000# less than the rest of us. My friend Scott with a Tundra is the only one that can keep with me on the hills, this includes the Ford guys in 5.4L trucks. After driving my dads 2011 F-150 3.5L Eco Boost it would do just as well or better.
More comes into play when buying a truck other than HP numbers. Thats for sales men and the blind customers. Look at fit and finish, interior, features like a real electronic locking diff, creature comforts, ect.
Chris