The MPG is 15.5 on highway cruising at 73 and barely 14 in town. Overall, about 4MPG on average less than my 2005. That's with a 6-speed too.
The biggest gripe I have is the useless 6-speed auto they linked the 5.4 Triton up to. The 6-speed is a detriment when compared to the 5-speed of my 2005 in terms of overall performance. I am firmly convinced that the 6-speed is the crux of all the acceleration and mileage issues. When moving at a crawl in forward or reverse the vehicle trembles and quivers. Ford says there are no codes so all is well. BS! That transmission is flawed and I'm just waiting for it to fail.
I have 1800 miles on this thing since taking delivery in January and absolutely hate driving it.
Later
The 2005 had a 4 speed trans. As far as the mileage, with only 1800 miles on it, its not even close to being broken in and the trans is still learning.
Sorry to hear about your frustrations, especially with the cost of these nowadays. I would give it a chance, RTM and see in about 5000 miles.
I can say that I regularly get 17-19 mpg out of my EL (4x4) on trips (loaded) and I'm averaging around 16 in suburban around town driving.