It's not just about Technology.
Why do the 5.4 4V get horrible gas mileage weighing similar to the 5.0, having the same technology, and having the 6 speed with 3.55-3.73 gears? That being said, how does a C6 Z with a huge Motor making a lot more power get better gas mileage than the new 5.0? Less moving parts? Possibly. Weight? That isn't out of the question, and makes sense.
It's been proven time and time again more moving parts = less gas efficiency. Granted, Sky has 3.15 gears, which is probably why he is getting better than normal gas mileage. However, have you ever heard of a 5.0 with a Brembo package with 3.73's getting close to 30 MPG @ 65+ MPH? I personally haven't.