When using "L" to slow down, the only time it spins the engine at higher rpm is when the battery is full and it has no place to put the energy. IF any fuel is used, it is very little. The recovered energy out-weighs any fuel used.
You can do the same thing with using the brake peddle, the only difference is it will use the brake pads instead of the engine when the battery is full. Turn on the "brake coach" and you can sort of see when it is using regen or using brake pads.
On an eco-boost, I agree, it probably wont gain you much. Maybe save a little on the brake pads, but not going to improve fuel economy. A Hybrid is a different story.
Find a nice flat, slow, straight stretch of road and cruise along in (L) for a bit and then deactivate (L) without taking your foot off of the gas. There is a very noticeable change in the vehicle sound and pedal feel. It's definitely affecting more than max regen and engine braking scenarios.
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