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Series 62 with 502 - swap to something more economic?

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Received this query in email:


I have a 1961 caddy series 62 with a GM crate 502 and  a GM 700R4 automatic overdrive transmission.  I would like to get some info on swapping out that engine for something with a little better mpg.   I have the original front end which was recently replaced with factory parts.  Can you suggest a engine that would fit?  I bought it as a retirement gift and I drive it most every day.  Any suggestions would be greatly appreciated.


2016 Cadillac ATS-V gray/black; 2013 Cadillac ATS 2L Turbo Premium (Wife's)

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