My parents had an 82 and an 86 in the early 90's, on the highway (95% of the driving) they got 22-24 mpg, stone stock nothing done to them at all, running 205/75/15's. And they had those ridiculous 2.21 or 2.45 gear sets.
My brother had an 82 Cordoba with a low mile 1990 318 in it with a thermoquad, MP 430/450 260/268 cam and dual exhaust. With a 2.94 8.25 diff he also got low 20's on the highway. Pretty zip to, would beat a 5.9 Durango R/T in a street race.