I had a Diablo chip in one of my F-150's (it had a 5.4L V8) and it made a pretty substantial improvement on performance, with the performance settings. And it made a not-so-substantial improvement on gas mileage when it was set to economy. It was a true improvement over stock...but nothing to brag about. The performance was more worthwhile than the gas. However, the performance settings required higher octane gas...so not only was I using more gas for the performance I wanted, but paid more for it too.
I used the chip in conjunction with an Eaton SuperCharger as well. The truck was really a performance vehicle...quite rediculous haha. I was looking to just supe the truck up, wasn't really worried about gas mileage at all.
I don't know anything about a chip for the Tundra, nor have I any experience. Only with Ford.