For what it's worth - we bought a new 2003 1500 4x4 Sierra with 5.3 and 3:73 ... found it to be very under-powered and we were at about 6000 lbs packed and on the road. I drove it six months (ate about $5000) and traded it up for a 2500 4x4 w/6.0L and never regretted it - well, regretted eating the $5000, but drove the 2500 for 214,000 miles. Last year, traded that one and went directly to the 2500 HD ... Didn't even think about the 1500 despite the tow claims.
Note: We're were nearly full-timing it, and traveling a lot, so it makes a difference if you tow occasionally, less distance, and family outings.