Holleys are known for adding HP but killing you on gas. Get a good reliable rochester carb nicely tuned and fixed up for the specs of your engine. This will really help. As for the 3.73 gear that is a big factory. If you swapped to maybe a 3.23 you would see 2-3mpg more. At the momeny my 79Ta 403/350 (got it as a senior of high school too!!) gets about 12mpg CITY with a 2.41 gear.
The four speed wouldnt really give you a TON of difference, only overdrive would. Think of it this way. If you spend $1,500 to install an overdrive transmission how long will it take you to make installing the new tranny worth it? You may save $5 a week on gas but....your out $1,500!!!!
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