Yes I use tow haul mode. without it Id be dogging it with the GM shift points.Also probably a hotter trans due to torque converter lock up.
I can only speak for GM.
2006 silverado,
On GM the shift points are extended to keep the RPMs up in the torque band. Will not go into OD until 60-65 mph.. ( I ride in 3rd anyway. Any fuel loss is well worth a new tranny.).
Also increases line pressure for firm shifts when towing
The torque convertor stays locked on second gear on up. Locked up TC keeps trans cool.
The alternator comes out of fuel save mode and pumps the full 14.4 volts.
There is no down shift mode on the gm of my year. The slow down when accelerator is released is that the torque convertor stays locked. Ford and the like I believe actually down shift.