I had a 2007 GMC 1500 with the 5.3 and now have a Tundra 5.7. Pulling the same trailer the Tundra pulls a little better, but thats to be expected with the extra hp that is there. Its not a night/day difference. My trailer has a dry weight of 5600 lbs, it pushes the trucks into lower gears on the hills going on the QE2, and any significant head wind hurts.
Look closely at the weights, when I was looking at trailers there were very few 5th wheel trailers that could be pulled with a 1/2 ton, most of them put too much tongue weight on the truck and over loaded the payload of the truck. There are a lot of weights to look at, make sure you understand them all.
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