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M46 or M47 which is a better manual transmission 200

I'm looking to replace the automatic transmission on my '86 240 sedan with a 5speed version. I can get a M46 package locally, but was wondering if I should look into a M47 setup too. Which would be the better box for 50/50 city/highway driving. I'm looking to bump up my mpg too, so the OD or 5th gear will help me acheve that. Also, how do I find out what my rearend ratio is in order to get the best mileage. I'm no speed demon, so quick off the line is not an issue.
Thanks for your thoughts on this in advance.
--
'86 sedan with 475,000 miles on the original engine and automatic transmission






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