Is this fuel injected? If so I would think a good tune up may help a little but 454's stock are not known for their mileage with out some changes.
If a carburetor try getting the carb, rebuilt. or a new carb.
It sounds like this was set up for towing, which won't change your mileage much. The 454 with a th400 behind it is a Power house which can take a lot of abuse, and keep your speed up in traffic, on hills etc, when towing or hauling a heavy load.
A set of headers can also help 5 to 15% increase in economy.
a little deeper work would be a good Cam, and a few more bucks a new chip set up in the computer.
A 4speed auto would help also may be a 700r4
The best I've seen is about 15 mpg, average about 10 to 12 mpg with a little work.
Oh, I have seen a blown 454 get 18 mpg on the high way, but 4 grand to get 18 mpg, your choice, this was also a muncie 4speed in a 1/2 ton.
You have a great power house set up, check around some more I 'm sure there are more tricks which can help
