I haven't read the whole of this thread, so apologies if I'm just duplicating stuff. However, most modern cars DO have over-run fuel cut-offs. That means that if the vehicle is moving, in gear, and the throttle is released, the injectors stop supplying fuel to the engine. This happens on petrols AND diesels. Over-run fuel cut off started to appear in the 1990s, and the programming was relatively crude, leading to jerkiness as the throtle was re-applied and stalling (sometimes) if the clutch was suddenly depressed. These days, the systems are much more sophisticated and gradually re-introduce the fuel as the road speed drops. It is, therefore, true that you can use more fuel by coasting with the engine idling than on over-run whilst in gear.
There is, of course, a point were one method becomes more fuel-efficient than the other.
As has been said, on over-run, the wheels turning the engine will create a fair bit of drag. Dipping the clutch and coasting, will remove this drag (good for fuel consumption) but then the engine will start idling - and thus use some fuel in the process. Going down a long mountain pass at high speed, it MIGHT be more fuel efficient to coast, but slowing down at 30 for a set of lights in a relatively high gear (4th or 5th), it's likely to be more efficient to leave it in gear and de-clutch at the last minute.
If anyone has a VAG car with a trip computer, put it on "instantaneous fuel consumption" and try the experiment. Lifting off the throttle whilst in gear, the display shows a series of dashes - signifying infinite fuel economy, because it can't display more digits than 999 MPG. Push the clutch in and it will read a very high number, but not as high as "zero consumption"!
So you pays your money and takes your choice! You can coast - and travel further at (say) 300MPG, or you can leave the clutch in, not travel as far due to the engine drag, but use zero fuel for a shorter distance!