On the whole mpg thing, it might be nice to add that the Royal Enfield Bullet seems to get a little better mpg. It has a bit smaller displacement and a taller 5th gear.
http://www.fuelly.com/motorcycle/royal_enfield/bulletAt 6500, the Savage is going 97 or so mph whereas the bullet is doing 108 or so mph. I think the Bullet peaks hp a little lower rpm than the Savage, but I don't think that matters quite so much, does it?
Considering the difference in displacement, the Enfield really seems to kick the Savage's butt when it comes to power. If I remember correctly, about 27hp and torque at least 30 ft lbs or more. Yeah, its less than the Savage is rated but--sheesh
-- for 150 cc difference, that sure makes the Savage look bad!
Maybe there are some design issues that hurt our thumper's fuel efficiency besides the counterbalancer? Maybe there's some hope for a fuel efficient Savage?