I had a similar truck, previous body style to that one.
The 454 wasn't stroked but it was punched out 30 over, balanced, blueprinted and built to race specs. Just under 11:1 so I could run street gas. Pinged on premium.... Went like Jack the bear!!!
I towed with mine, went like a bat out of a hot place, from gas station to gas station.... I could pass everything except the gas station! :B
Yeah it was thirsty, real thirsty. Step on the gas and it was like flushing a toilet! Stuff my foot into it and could almost watch the gas gauge go down. Think I got a bout 5.7 MPG with it. (Imperial) Towing? Well, mileage suffered there too....
Don't imagine this one will be much different. Buy it anyways and have some fun! Relive your youth! :B