I have the 5.4L and I get 12-15. I might get better mileage with it, but the damned exhaust sounds so good that I'm afraid I tend to use more gas then necessary when accelerating... A couple other things about the truck:
1) I live in the midwest, where pickups have a bit more cache than they might along the more "gentle" coasts. My Raptor gets more attention on the road than my GT-R. It is an awesome looking and sounding truck.
2) Despite having owned minivans, and great SUVs, the Raptor is, hands-down, the best road-trip / highway cruising vehicle I've ever owned. A suspension made to smooth out two-tracks and baja trails at 100+ mph makes for a GREAT ride on our nation's ever deteriorating highways @ 78mph. When we take trips, we often take the Raptor and leave the Audi Q7 TD at home!
If I had to do it again, I would get the 6.2L. When I bought mine, which was right after they came out, they were not yet offering the 6.2L. However, I think the Edelbrock supercharger system sounds like a pretty great solution for those of us that have the smaller engine, but have found themselves wishing for a little more horsepower when pulling a heavy boat through the mountains.
The other thing I would definitely do differently is get the backup camera option. I bought mine loaded, but no dealer near me had that option. The truck is so high, wide, and big (even with only a 5.5' bed) that maneuvering it in parking lots makes you feel like a bull in a china shop. For me, it's really tough to judge how much space you have to back up before you crawl up onto the hood of that little Ford Fiesta behind you!