I have the same 2011 3/4Ton Suburban. I think the high engine speed you notice downhill is engine grade braking if you are using Tow/haul mode and Drive gear. There is not a lot of engine compression under 4000rpm to offer much deceleration benefit. For ~3000 pounds, you may want to use normal transmission mode. I believe the owners manual recommends using it when towing over 80% of either GCWR or tow rating.
I can think of a few improvements to the transmission shifting. There are a lot of online discussions about GM's "Torque Management" feature as well. I am considering getting a Black Bear tune which I have heard very positive feedback in improved drivability both empty and towing. I tihnk you
We put all 109k miles on our Suburban. I budget 8mpg towing @ 70mph. We get 12mpg mixed driving in the winter, 13mpg summer. Our whole tank high is 17mpg non-towing highway. I have no complaints about power/fuel as long as the engine speed is high enough which the trans programming seems aggressive to upshift and hesitant to downshift.