N87PM is an M20J, same as David has, IIRC. Frankly I do not believe in 145 kts on 8 gph in it. M20C with 180 hp could do it, I suppose.
I think the J has a better chance of 145 KTAS on 8 gph than the C does - It's an aerodynamically cleaner airplane.
Also, I don't think 145 on a J on 8 gph is an unreasonable expectation at all. It'll do 155-160 on 10 gph, and that last 10 knots is expensive - The R model I fly will do 180 KTAS on 17 gph, but it'll do 170 KTAS on 12 gph! I'll have to see what it'll do on 8 sometime.
Up high, I'm fairly sure a DA40 could run 135 knots or so, LOP at about 8 GPH. Pull it back for 130 and it would for sure.
I've run our DA40 at 7.5 gph LOP and gotten 135 KTAS. 6500 MSL.
How did you manage to burn 10gph with an O320? With a fuel leak?
High power settings will do it. Both the DA40 and M20R that I'm most familiar with will burn around twice as much during the initial climb as they do in cruise. (DA40: 18 gph at takeoff, M20R: 25 gph at takeoff).
I am just curious what are some really efficient airplanes out there? Maybe something that does at least 110kts.
You need to clarify what you mean by "efficient". If you're trying to get yourself up in the air solo and fly around in circles building time, then you want the lowest possible gallons per hour. Lots and lots of small LSA-type birds that'll get up and fly slow at 3-4 gph.
OTOH, if you want to actually go somewhere, then GPH is irrelevant - You're looking for nmpg at that point. And you still need to define the mission - How many seats/what useful load do you want?
Personally, as a pretty big guy, there isn't a 2-seater that I'd really want to take on a long cross country for comfort issues. The most efficient birds I've flown are the aforementioned Diamond DA40 Star and the Mooney M20R Ovation. The DA40 in LOP economy cruise will do 135 KTAS on 7.5 gph, though you might need to install GAMIjectors to run it there comfortably - I run ours right at peak if I'm high enough and get 140 KTAS on 9 gph. So, you're talking 15.5-18 nmpg.
In the M20R, it gets between 167-175 KTAS, depending on altitude, at 12 gph. It's really happy at 9-10,000, that's where I've seen 175. But, you're looking at 14.2 nmpg, give or take a couple tenths. Not quite as efficient as the Diamond, but it's going 30 knots faster, if that matters to you.