My GQ was my 7th LPG vehicle. It was a dead-stock TB42, no ignition mods, no extreme tuning, no extra lube systems, just extractors & a 2 1/2" system recently. It always did a very consistent 16 mpg on petrol & 12-13 mpg on LPG. The conversion including fitting, tuning & the belly-tank cost $3500-00. Over the last 4 1/2 years it saved us $12 000-00 (conservatively - probably more) in fuel costs. If you're going to spend even half your time in town you can't go past it.
Our last trip to Fraser we filled both tanks up at Rainbow Beach & used the petrol first, on the premise that we could always fill it up on the Island but not the LPG, which we kept as a reserve. After we'd done our "Touring Musts" we'd just about emptied the petrol-tank (200 km approx) & spent the last 2 days lazing around, swimming, bush-walking, fishing etc so ended up NOT paying the $1-82.9 cpl for ULP & used the LPG to drive down the Island to the Ferry. Total range would've been about 500 km using both tanks/fuels.
Don't forget that the Commonwealth LPG Rebate still applies - $1500-00 now I think - but also bear in mind that the long-threatened excise (tax) is also due to be applied to LPG this year. Could be 4cpl, could be 14, I've heard both figures mentioned. Personally, I think that the Taxi & Courier Industries will utterly revolt over such an excise. Be interesting to see if it also applies to CNG as that's what my current truck runs on - straight MPI CNG.
Good luck with whatever you decide.