That's not necessarily true. The SS see around 2-3 MPG's when adding the whipple.
OP - First of don't get discouraged, I'm not trying to scare you away from working on your truck, I just want you to know what your getting into first. I don't think you completely understand how much $$$ will be involved in this. In all actuality that's why you don't see it very often, b/c the people who are willing to spend that much money usually are car (or truck) freaks. But if you do want a real idea of what it'd cost we'll try and lay that out for you. As mention before the heads are garbage. The bottom end isn't overly strong but for budget we'll say we are gonna use it till it pops (question of when, not if), we'll definitely need an intake, and at the very least an upgraded TBI, we'll also need a fuel system to feed that bad boy (we'll do this on the cheap too), then we got the turbo or turbos, hot side piping, cold side piping, intercooler, boost regulator, some kind of tuning software and the tranny is going to crap the bed pretty quick so we'll plan on that too, also there's no way it'll hook up after all of this so at the very least you'll need some wheels and tires. Soo here's a parts list and I think I speak for a majority of the site when I say that if you're still willing to do this we'll help you out all we can.
Sooo parts...
Heads $750 (that's cheap)
Intake $150 (single plane, low rise intake)
Cam $325 (custom grind for the turbo)
Gaskets and Misc $250
TBI $450 (ported 454 TBI)
Fuel Pump $150 (walbaro 255)
Fuel pressure Regulator $150 (Aeromotive 13301)
Fuel lines $175 (probably more than that really)
Turbo - Anywhere from $350 - $1500 each. Realistily $500 ea or $750 for one
Oil lines - $250 (for turbo)
Hot Pipe - $200 (if you do it yourself)
Cold Pipe -$200 (if you do it yourself)
Intercooler - $350 - maybe less used
Boost Reg - $250 wastegate (this is just a flat out guess)
Tuning Equipment - $450 EBL kit works nicely
Tranny - $750 for built th-400 more for anything w/ more than 4 gears
Converter - $500
Wheels - $400
Tires - $600
So you're lookin at upwards of $7,000. Now it would be flipping awesome if you did it, but do you got $7k sitting around or are you willing to start buying parts and spend all of you're extra money for a year or two before you have everything to start working on it. If so then you are retarded, just like me.
FYI my build is right at $8k for parts and I've already got $4k at the house waiting on me, but I'm in a special situation.