I agree that you're not going to see much better with a 4.10 axle. And you're also dealing with less efficiency of a 3/4 ton axle and TH400. But if 10MPG is your all-around mileage, that's actually not too bad.
If that's a mild 350 and you don't tow more than a small U-Haul trailer, then a 3.08 ratio would work fine and should bump the highway mileage by 2-3 MPG.
An OD trans with lock-up converter would lower highway RPM by at least 30%, but then you'd open a new can of worms. You'd also have to do some cost/benefit math on spending a lot for ring & pinion gears or OD trans plus labor. I mean how long would it take you to recover a $1,000-$3,000 investment?
You might want to play with the calibration on the 1406 carb. I have personally seen 10% better mileage by leaning out a 1406 to the ragged edge. Primary jet size and metering rod diameter are key. Read the theory of operation section to learn how the carb works, and then look at the calibration charts starting on page 5 here:
https://www.edelbrock.com/pub/media/wysiwyg/documents/carb-owners-manual.pdf
This just occurred to me: Does the truck have dual exhausts? Properly sized pipes (2-1/4" minimum diameter for a 350) with low restriction mufflers can make a huge difference in performance and gas mileage. I could tell a story about a 30-40% increase in gas mileage after adding duals with generic turbo mufflers, and a 450cfm Holley Economizer 4-bbl to a stock 307, but it would sound like BS!