You won’t notice any real fuel economy differences. Tstat only dictates fluid circulation temp which alone can cause a drop in engine temp since our trucks use a mechanical main cooling fan. The electric is for AC operation to make sure you have enough airflow over the condenser. Fan temps should be adjusted for lower Tstat operating temps. But you can see temp drop during high speed low load driving like highway cruising when ample airflow through the radiator is present and cooling fan operation isn’t a factor anymore.
Dropping engine temps affects fuel
Burn in the chamber and how fuel mixes with air for a more complete burn. Engine temps also affect material expansion of the engine components like block, pistons and heads etc. a hotter engine will expand more and tighten tolerances which can promote a bump in fuel economy. It’s a balanced equation and modern engines are designed with the higher temps in mind, cooling can have a negative affect on engine longevity but it has to be measurable and I’m not sure that it is.
The drop in engine temp usually results in a lower IAT which can promote slight power increase. Something I heard a long time ago is 10* decrease is worth 1% or something. IAT temp is used in a lot of engine management tables for the engine running, higher IAT temps can cause a reduction in fuel to maintain commanded AFR as the fuel is more efficient at higher temps. IAT also affects things like timing reduction to help with detonation etc. decreasing IAT temps can make more power from the above but usually at the same commanded AFR bc the O2s will always dictate AFR and the ECM will control fuel to meet that.... doesn’t matter the engine coolant temp if it’s 180 or 200* the AFR is and will usually not differ thus no change in AFR or power, but you could gain hp if timing reduction is reduced due to lower IAT and engine coolant temps.
With all that being said, lower Tstat and adjusted fan temps would be a worth while mod IMO especially if you have the 8spd and I don’t see it being a real negative longevity wise. Even in stock form the engine is designed to run 89 octane, most of us run 87 which can cause pinging or detonation at stock temps, thus the PCM reduces timing to compensate, reducing temps both engine and IAT could combat that, thus making more power on the same gas octane.