in my dads z71 silverado he has the 5.3L i think it is rated at 280hp or so.. He get close to 20mpg.. i use to have a 3.9lv6 dodge dakota that got 16mpg on a good day. This 5.3 vortech is a hell of a motor and its got some balls as well. His truck is a 2001 and has 85,000 on it and has yet to have a single problem, cant say that about my mazda.
I also have a 92 GMC sonoma with the 4.3l vortech, i recently just drove it from Pa to VT with a couch and my snowtires in the back, along with 5 cases of Yuengling, and still got 20.5mpg. oh and the truck has 195,000miles on it and runs and shifts smooth as hell.
These arent the most effiecent engines GM makes, but they make a hell of a good truck engine.