Coasting vs. Engine Braking

[skewbe]

You just about floor it (stay out of enrichment) but you shift before you hit the powerband.

Each engine has a range where it accelerates the most efficiently, you have to look at the BSFC (Brake Specific Fuel Consumption) maps for your engine to know for sure where it is making the most power per fuel consumed, roughly about 2/3 throttle and shift to the next gear before 2500 rpm. There are a LOT of variables.
Basically you want to keep it in the oval when you are accelerating (pulsing), and if you are not accelerating you are gliding.

[mrmad]

While I won't get into the argument of the gas savings of engine braking I think in the long run, any potential savings you'd get would be lost in clutch and drivetrain wear.