Best MPG I ever got on my Dodge CTD was from Fayetteville, AR to Sevierville, TN to pickup a Lance Truck Camper. I left the tailgate at home and drove above the speed limit.
There may be a point of diminishing returns, or a point where the absence of a tailgate actually reduces drag thereby increasing fuel mileage.
I am not knocking Myth Busters, but my own experience proved different.
I run a louvered tailgate 95% of the time just to reduce turbulence in the bed. I have had a HEAVY rubber mat slap the rear of the cab from turbulence when the OEM tailgate was up.
BTW - I have never driven my Dodge CTD over 115 MPH.
Looks like everyone is correct in one way or another. It appears that the drag is most affected (50%) by the profile off the tail end. No tailgate is better than tailgate up. Tailgate down is, apparently, worst of all.