Would you consider the smaller Tundra engine offering?
Why would you? The 4.7 was fine in the 1st gen Tundra, but that was a lot smaller truck than the current version. The mpg gains are next to nothing compared to the difference in power.
FWIW, the 4.7 is gone. It was replaced a few years ago by the then new 4.6. The 4.7 was rated for anywhere from 240-281 HP depending on the year of the truck. The newer 4.6 is rated for 310 HP and reviews when it came out said it didn't give up much to the 5.7, though I'd bet that gas mileage didn't improve all that much, either, likely making the 5.7 the better choice.
