Nice looking truck and not a bad price. BUT, a 460 will give you ~11 MPG if you are lucky, and probably more like 10 with the C6 auto. As me how I know - Big Blue can crowd 12 with its manual tranny.
But a C6 doesn't have an OD nor lock-up torque converter so that 2500 RPM at 65 MPH on Big Blue just went to 2800 and the MPG just went down.
And, a 2wd 460 won't have much traction. My brother had one and said he got stuck on wet grass. Plus, the 250's ride harshly, assuming it has the 8600 GVWR springs that most had.
Gary, AKA "Gary fellow":
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Dad's: '81 F150 Ranger XLT 4x4: Down for restomod: Full-roller "stroked 351M" w/Trick Flow heads & intake, EEC-V SEFI/E4OD/3.50 gears w/Kevlar clutches
Blue: 2015 F150 Platinum 4x4 SuperCrew wearing Blue Jeans & sporting a 3.5L EB & Max Tow
Big Blue: 1985 F250HD 4x4: 460/ZF5/3.55's, D60 w/Ox locker & 10.25 Sterling/Trutrac, Blue Top & Borgeson, & EEC-V MAF/SEFI