f. boyle, you're not serious, are you? The reason I ask is all the smilies

in your post. In addition, 230 HP + 25 MPG is a combination I think most 1st genners would give significant body parts to achieve.
Regardless, I think Banks' claims are probably a bit optimistic in the horsepower numbers. In any case, there's just no way you can achive 300 HP with a Bosch VE pump engine in a daily driver, period.
Also, you'd have to look at why you want the horsepower. If you want it for acceleration, then you should look at lightening your truck as much as possible (if racing, then that's good advice even if you're not up against the HP wall). Possibly look at fiberglas body panels, etc.
If lightening the truck isn't realistically possible, then look at an engine transplant from a '94 to early '98 truck. This would be a 12 valve engine with the Bosch P7100 injection pump (which is much more powerful than the VE pump). While P7100 pump engines are capable of 500+ HP (Joe Donnelly's truck is an excellent example), this would normally be a prohibitively expensive swap for a 1st gen.
Now, if you're *REALLY* getting 25 miles per US Gallon typical highway milage at speeds in excess of 50 MPH, then I'm sure many here would like to know your secret!

As someone who can't get any better than 18 MPG, I know I sure would!
Mike