What to do next?

I am picking up a used 1998 Tacoma SR5 2wd pickup this Friday. It has the small 4 cyl engine with a 5 speed tranny. This particular truck is not going to be 4 wheeling etc. What I need it to do is be as economical as possible and ride as smoothly as possible. I will be using it to commute about 500 miles a week and want to get the most out of it.

So, my questions are these:

Is there anything else I can do to increase the fuel economy? K&N air intake perhaps?

Also, what about the ride? Is there anything I can do help it handle the bumps better and provide a smoother ride?

Lastly, to head off the few comments I can see coming my way. I realize this is a truck and not a car. I need a truck for my commute as I will need the capability to carry a few larger but lightweight carriers.

Thanks in advance for the help!

Griz

Well we all know the gas mileage on Tacoma's is not the greatest but you have the 4banger so it's a little better. K&N won't make a difference.
As for ride you can put some better coils on it which would give it a smoother ride. Later

The K&N will actually help but it's not significant. The problem is you'll probably end up using the extra power all the time so your mileage will be the same or worse.

I would suggest inflating the tires to the maximum safe pressure. More pressure lowers your rolling resistence but don't overinflate or you'll loose too much traction. A tonneau cover will also improve your mileage. A cover decreases the amount of flow separation behind your cab improving aerodynamics. Don't bother leaving your tailgate open like a lot of people do, it doesn't do anything but wear out your hinges. My number one recommendation is to drive conservatively. It's amazing how much more fuel I use just by being a leadfoot every now and then.

I would suggest that you do a quality tune up with top shelf parts and then change the motor over to a high quality synthetic. Amsoil series 2000 0W30 will net you at least a couple of miles per gallon. With the bypass filter system you could run up to 20k miles between oil changes BUT you must still change the filters at mfg. recomm. intervals. 2-3K miles for the full flow filter, 7.5K for the bypass filter. Obviously you will need to top of the system with a quart or two when you change the filters.
Redline MTL in the manual trans (about 3 qt) and just over 2Qt of high quality gear lube in the rear diff. The K&N does allow more air in but it allows more dirt too. I would stick with the Toyota paper filter because it will increase the life of your oil and oil filters. Your truck also has a somewhat adjustable front ride height so I would recommend you set it as low as poss. to decrease drag. May need to realign if you do this.
Keep it under 65 or so and you should get better than 20-23 mpg highway.