On a serious note, they’ll tow whatever they’re rated for, safely.  
Performance wise, if you limit yourself to about what half tons of that era tow well, then it will perform decently from a power standpoint. 
My experience with more than a handful of 5.4s has been primarily at altitude and they run out of steam quickly with larger trailers and are pulling every hill in 2nd gear (even smaller trailers will put you wound up in 2nd up grades). But those engines like to rev, no harm there. Sitting at 4000-5000 rpms is like butter. Just not efficient
Flat land, low alt, I drove an old Expedition 5.4, loaded to the gills with 8 passengers (4 were little kids), luggage and a 6klb boat behind and it would hold 3rd gear no problem on the flats. But it didn’t like anything under about 3k rpms