If you LOST power, you aren't dialed in. The SP-2P was an economy oriented intake, and below 4000 RPM, should do far better than the single plane iron stocker. A 4 barrel shouldn't hurt economy (unless you are constantly using all four barrels). If you are running an Eddy 1405, think about going 1 or 2 jet sizes leaner. Make sure you are running plenty of timing advance. A 318 with the stock cam likes at least 10 degrees static. Make sure you have a functioning vacuum advance, and hook it to timed vacuum (passenger side nipple on an AFB/AVS/Eddy carb). Down the road, if you start looking for a little more power, scare up a regular Performer or an old LD4B, and dont go nuts on the cam..
My 72 Swinger, with a dead stock 318 with a gazillion miles on it got 20-22 MPG on the highway and 16 or so in town (without a/c on). Unfortunately when I quit running that engine, it was getting an abysmal 400 MPG on oil. So it was truly an "Add oil and check the gas" ride. I think I spent more time cleaning my tail lights at