I used to run a 390cfm on a 3.5 rover and it was fine, now run the 470 avenger holley as it is the best size for a 4.6 as well as being designed and factory modified for off road. Im dubious about the 500 as i think it is oversize for the 3.5 or 3.9, it therefore loses air velocity and therefore power higher up the revs, good for low down though. Where a the 390 on a 3.5 or 470 on 3.9 would be better. Holleys are easy to setup, there are tonns of spares and advice available too. your right about the high fuel pressure, but that doesnt influence economy, only the right foot does that, whatever carb you have.