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I was in the same boat... really needing a half ton but when I priced out a comparible 3/4 ton they were within $2,000 of one another. I really wanted a manual transmission and manual shift 4wd, so it ended up being a no brainer for me.
I've got 15,000 miles on the truck, so I have a decent idea of the mileage this truck gets. Here's how the numbers break down:
Highway: 15mpg @ 65; 14mpg @ 70
Mixed: 14mpg
Town/City: 12.5mpg
Towing 7-8,000lbs: 9-10mpg
These are my real world numbers. Also, if you do end up getting an F250 with the 5.4L, I'd strongly suggest you get on with 4.10 axle gears. The 3.73 ratio is far more common, but really does not get any better mileage. Let's face it. My truck weighs a little over 7,000lbs without any accessories, or even with me in it. The 5.4L isn't bad, but it needs all the help it can get.