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If everything is working properly, the following are some things that could further improve your fuel economy:
- Higher compression (new pistons/rings, modified cylinder head)
- Carburetor rejetting (check for optimum fuel mixture with a wide-band O2 sensor)
- Timing advance optimization (requires dynamometer work)
- Engine speed reduction (highway gears in axle, overdrive transmission)
- Upgrade to high energy electronic ignition