On my 08 STA 4.6, I went from the stock 255/50R20 Pirelli to a 275/55R20 Michelin. The stock diameter was right at 30" and the Michelin is right at 32".This has the truck reading about 5mph slow before correcting the speedo,thus increasing mpg. Essentially it changed the ratio down to about 3.25-3.31 from the stock 3.55 or thereabouts. I lost a little on acceleration ,but not enough to complain about. On the highway, flat terrain, mileage is usually between 24 and 27 running 65-70(no cruise control). Start climbing hills etc it will drop to 21-23 but it will pick back up on level roads. Combination, it will drop to 19-21, if you don't get hung up in traffic and do a lot of idle time, then it will really drop.
For what it's worth, gas mileage is very good compared to what I used to get with my 01 and 05 Tracs. Never more than 21mpg with either one. The problem with both of them was the 4.10 gear that I ordered to get the locking rear.(not available from the factory with the Gen.2 Trac). My 97 Explorer with a 302 and 3.73 gear doesn't compare with the STA mileage wise either. Best i ever got out of it is 21-22.