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I think your best bet would be the 5.3l. Even though you say you don't need a lot of power for towing, you never know when you'll be loading up the bed with all kinds of stuff. The 5.3 from the factory gets about 17-18 mpg on the highway if you keep your foot off the gas and all the power you'll need. Both power and mpg can definitely be improved with a few simple mods if you want. The bottom line is better to have it and not need it than need it and not have it!
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