I towed a 30' toyhauler with a 4.6 Explorer for 10 years, worked great. I believe you have a solid rear axle and the vehicle weight is higher so you will have a slightly worse overall experience from both handling and power on the hills, but the trailer being much shorter I would not see any problem as long as it is setup properly.
That is an old vehicle, have you changed fluids in the transmission and differential?
The only time I felt any issues was when moving my son (all too frequent an occurrence while he goes through school with his half ton, literally, of books) when the weight would go north of 8,000 and the hills were a bit of a challenge (I had undersized tires, so I had effectively a 4.73 rear end). I doubt you will ever be anywhere near that weight.
