Does the model year Denali have a low range transfer case? As far as towing goes, I think the only issue would be potentially the lack of low range. Depending on where you tow, low range can be a very helpful option. I use it periodically moving the trailer around in tough conditions. For example, this weekend we camped in the sand dunes, and moving the trailer back and forth in the sand to get situated can be a strain on the drive train. Nice to drop it in low range for that duty. The other situation in which I've used low range towing is going up, or especially down, gravel or other forest service roads. We like to get way back off the road sometimes, and the gravel roads back in the woods can be very steep. Coming down these hills in low range is a brake saver! If you never do this type of camping, low range probably isn't of much use to you.
Other than that, just a bit more fuel use, I think, is the bigger difference.
Good luck.