To be honest with you, you are crazy to not get a 3/4 ton. Budget be darned. Get the best tool for the job. There are so many advantages to a larger truck they far outweigh any disadvantages. No one can predict what the future will hold. Do you know what you might want to tow next year? Five years from now? No!
Besides a stronger frame, better tires and wheels, beefier springs you get things like full floating axles. Throw in a more capable motor and bigger universal joints and IMHO the decision is a no brainer. As for budget? Have you thought about something besides a Chevrolet? There is a whole wide world of very capable trucks out there to explore. Sticking with brand out of misguided loyalty is only doing yourself a disservice.