Real Mileage / My Experience
I have an 87 BII which, running well but with a weak auto tranny and 3.73 gears, is currently getting about 16.5 mpg average for a mix of town, country road and highway driving, mostly fall and winter, and includes a limited amount of 4x4/snow driving. My "new" 1994 Explorer Sport, in excellent running condition, with a good auto tranny and 3.55 gearing, gets 15.5 mpg for the same driving.
I have also tried running the Explorer without using the Overdrive, as I have seen this reported as being a method which increases mileage (and the engine seems to lug when in OD even on the highway). Unfortunately, two ~1500 mile back-to-back mileage tests yielded the exact same 15.5 mpg performance.
Note that these mileages are ACCURATE, and have been generated by recording every single drop of fuel that goes into the tanks over thousands of miles of driving. I record mileages about every ~1500 miles or so by filling the tank tippy-top full, recording all gas purchases, and then doing another tippy-top fill-up at the end of a test period. Odometer accuracy is checked against highway mile-markers, and error is very low. This is my experience only, and I realize others will not have the same mileage, but this is real world, ACCURATE data, not "I usually put 16 gallons in for a fill and get 325 miles" type data.
There is a reason Explorers were the #1 vehicle turned in during the Cash for Clunkers program. If you are thinking you will get better mileage with an Explorer, based on my experience, I doubt you will get it. You will get a bigger vehicle with a much more powerful engine.
CraigK