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Speaking as a professional engineer with plenty of PCB design experience, placing capacitors of various values across the battery terminals will definitely smooth out some of the noise in your electrical system. How this could conceivably translate into better mpg is completely beyond me. Better sound from your stereo maybe, but mpg seems pretty far fetched. If I get around to it I will take some oscilloscope measurements across the battery terminals under various load conditions on my stock fit. If the noise levels turn out to be alarming I might drop $10-15 on some caps from DigiKey to try and smooth things out...just for grins.
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