I have decades of experience with trucks of all sizes, professionally.
And lots with Dodge 5.9 diesels.
They have almost zero engine braking. It’s possible to drive with a load down hills just using the service brakes but I consider it foolish. I wouldn’t have one without an exhaust brake.
You can also tow a large trailer safely with a Toyota pickup, IF you drive it carefully enough. That doesn’t make it a good idea, but if I HAD to get a trailer across the country with one I could.
As for the assumption that since the truck has a tow rating high enough for the load in stock form, it’s fine- that’s not necessarily so.
The “electronics” needed to make the exhaust brake work on the Dodge automatic are as simple as a $3 switch that grounds a wire going to the ECM, to signal it to lock the torque converter. I use a floor mounted headlamp dimmer style switch on mine.
Or you can buy a setup that automates it more. I like to be able to lock my converter whenever I see fit. The older Dodges have irritating stock transmission programming that unlocks the converter every time you let off the throttle.
Having an exhaust brake lets you descend most grades with a load without riding or even using your brakes. That’s a very, very good thing. That way they’re cool and ready to handle anything unexpected, rather than hot and already at their limits.
The modified valve body for second gear lockup isn’t really needed, if the truck has 4.10 gears. Third gear with the exhaust brake is usually fine.
You can modify your existing valve body for second gear torque converter lockup, all that modification is is a glob of epoxy glue to block one of the passages.
However, I very highly recommend an aftermarket valve body and triple disc torque converter for any 47/48re Dodge transmission used to tow anything at all. They’re well known as the truck’s weakest point, but are rock solid when properly built.
This has been settled, the truck is getting an exhaust brake, and I feel I’m well qualified to say that was the wise choice. Can you drive an early model 5.9/auto with a trailer without an exhaust brake? Sure. I’ve done it lots. Would I do it ever again if I had the choice? Absolutely not.