A lot of people say the EB are powerful (true) but don't get great gas MPG. I'll argue they do. I have a 4x4 3.5L EB with the Max Tow package and 3.55 locking rear end. I've added 1.75" in the front to levelish it and fit the 33s. Will sticking 35's affect MPG? On every single vehicle. Will driving it in boost do that? Every time.
The 10 speed comes with 5 modes, one of them being ECO, and while I drive in Normal most of the time, the ECO and normal control the electronic wastegate to limit boost pressure buildup (improving MPG but slowing down the truck), and the 10 speed transmission works pretty fluidly in the background to optimize power.
After 10,000 miles my average is 19.1 MPG with stock tires. For a big truck that I drive mild-medium, that's impressive. My Tacoma averaged 15.6 with those same heavy 33's.
More power = worse MPG || UNLESS || Less power = engine works harder.
The 3.5L works hard if you push it, but not really if you don't.
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All of that to say I think the 10 speed + 2.3L in the ranger will probably offer similar MPG as the f150 with a much smaller footprint, and still a peppy experience.
My 3.5L Tacoma v6 with the 6 speed transmission not only got worse MPG after modding a little, it was a dog. It badly needed a regear. BADLY.
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One more note. I chose SL and P tires, or a C Load. I had E Loads before, and it greatly added unsprung weight. Which is why people say they get bad MPG with a tire size upgrade.
1. Larger diameter messes up your metrics calculations.
2. Heavier tires add unsprung weight.
Those 2 factors add more to the (I lost MPG) than any single other thing I've been able to determine.