I've got a 502 on a 16' Diamonback with a 45 gal. fuel tank and a 4 blade whirlwind. I bought used from a guy at Kissimmee. The day after we bought it we filled it up, put in at Grape Hammock and headed south following the bank, drove all the way around the lake and lapped every Island along the way at least once. It took all day, however many miles that is, it was 8-10 hours. We had about 5 gals. of fuel left when I refilled that night. That was with 500lbs. of passengers and big ice chest loaded to the top on board.
We ran shallow water around 3200 rpm most the day with some idling around and an occasional outburst, opened it up once coming back on the west side of Brahma island, hit 73mph on the gps and still had some throttle left. Then we ran a little ground up on Brahma island before we put it back on the trailer. I was satisfied.
The boat consistantly runs all day on the fuel in the tank, I'm sure I could run it out in a day if I was trying to... I try not to open the secondaries except to push it up on plane, I think it really is pretty economical running on the front two barrels between 3000-3500 rpm. I've quit carrying an extra can just in case.
I posted this same story about fuel consumption a a while back and there were several doubters, kinda made me feel like they didn't think I knew what I was talking about. Funny how the responses depend on who is making the claim.