'62 Impala SS - 25+ MPG Daily Driver ?!?!?!?!

Background:
I've got a '62 SS Impala hard top, two Rivieras ('63 & '71), several old Chevy and Ford trucks, Datsun 510, and a '84 Mustang GT.

My priority project car is the Impala.  Well for my '62 SS, I want to turn into my daily driver. $4/gallon for gas and I want to drive a '62!?  I'm not into trailer queens.  "Build 'em to drive 'em." is what I say.

The Impala currently has its original 283, 2BBL Rochester and the Powerglide.  I want to keep all the original parts so I can always to back to all original.  It's not going to be a frame off resto, just some modifications to get better MPG, better HP, more safety, and more comfort with an  A/C.

GOAL: Drive my '62 SS as a daily driver, getting 25+ MPG and have better HP than my 283.
Engine: I've been struggling to figure out which poweplant to drop in it.  What would you suggest? A 350 crate?  If so, from where?  Jegs?  Summit?  A local builder?  (I'm in Southern Cal, in Orange County.)
Tranny: A 700 R4 or a newer version of a 4-speed, I just don't know.
Fuel System: I have considered going with a fuel injection system to help with the better MPG such as that offered by www.massflooefi.com.
Other changes: I would like to add a HEI distributor, A/C, front & rear disc brakes and Air Ride Technologies suspension system. I also thought of adding a ram air system like the one I found at  www.ramairbox.com.

If you have a few minutes to spare, please let me know if you think I'm out of my mind or if you can offer some ideas to make it happen or get as close as possible to make better HP and still get 25+ MPG (if I'm not "pedal to the metal.")  I would appreciate any and all suggestions/recommendations you have.

I would really appreciate your input.

All the best!

Later...

C. Paul  

It's really not that difficult to get 25mpg with an Overdrive and a soft touch on the pedal. Check out the 25mpg thread. I'd start with the trans and work from there.  The 700r4 is a solid piece stock ('87 or newer) with the TV cable adjusted properly and horsepower levels aren't ridiculously high. I put one in a '69 Firebird I had with a Pontiac 400 and averaged an easy 25mpg highway and 18mpg around town, got a high of 28mpg.  Once you see where you are with the 283 and the 700r4 you can figure out what you want to do engine wise.  With a real first gear the 283 will already feel peppier over the powerglide and that might satisfy your daily driver requirments.  Engine wise the key is to build it fairly mild for some down low torque, that way it's relatively fun to drive because the responsiveness of the torque and keeps the efficiency range of the engine near the cruising rpm for mileage.  
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The Silver Buick- '77 Skylark coupe w/ a Fuel Injected Buick 455&TKO-600, '72 Centurion Conv't - 455w/TH400, '67 T-bird 4Dr (suicide) w/428&C6. Needing to replace a '69 Firebird 400.

http://www.bangshift.com/forum/index.php?topic=6189.0

Gonna be tough with that heavy a car, but not impossible for 25 MPG highway.

An overdrive automatic is gonna be the first big step.

Second is the rear gears, you want them to be high gears, I'd probably stay below 3.55.

Third is the motor. 9:1 compression first, 9.5:1 max, that way you can run 87 octane. You want this motor to make a plenty of vacuum and bottom end torque so you don't have to floor it to get the car moving. A good 355 is the way I'd recommend going. I know someone will say go with a 383, but keep in mind, the more cubic inches, the more gas that has to be burned. A good 355 with aluminum heads, a mild hydraulic roller cam with a wide lobe seperation, cast crank, aluminum manifold, and a good single four barrel like a Q-Jet or an AFB would be best.