I've driven a few of them old timers like this. 235HP and 385 lb ft of torque is NOT that much. Along with this truck will have either a 3 sp auto, th400 or the 4l80E. It WILL NOT have a 700r4 as mentioned earlier. The 700 from a towing standpoint with its 3.08 first gear ratio vs a 2.48 for the th400/4l80e version is better!
I found this truck could pull a mtn not issues if under a 10% grade, but get over a 12-15% grade, you would stall out, as it did not have the overall low gearing to move anything. It HAD/HAS the power, but the tranny is geared WAY too tall for serious towing on grades.
Took GM until the 6l90e in the newest 8 lug trucks with the 6.0 gas to come up with a true HD auto trans. If one can find an older beast like this with the NV4500 or Muncie 4 sp.....Now you have an animal that is worth going for. Get 3.42 or 3.73 gears with the muncie, 3.73 or 4.10's with the nv4500. Now you have a towing machine, even with the lower hp. The vortec 454's did get about 295 hp and 440 or so ft lbs of torque, as that was the limit of the 4l80 tranny
Marty