seems you've already come to a decision and i think you are doing the smarter safer thing, i would just like to add in my 2 cents

i've got two rangers, a 98 4x4 on 31s with 3.73s and a 3.0 auto, my trailer is a single axle 5x8 weighs around 400lbs, have towed it several times with 2 dirtbikes on the back, towed a polaris sportsman 400, and towed about 1000lbs of scrap metal, truck was obviously slower with the extra weight but had no problem cruising in OD, and suspension wise i could hardly tell there was a trailer back there
my other ranger is a 99 2wd, coilsprung on stock tires (25in?) 3.0 auto with 3.73, i've done a couple short trips with the trailer on that truck, had a snowmobile on it (400lbs?) and i hated it, power and brakes were fine but since the truck is lighter than the 4x4 it seemed like the trailer pushed the back of the truck around on the road, and when i got home to my iced over driveway forget about it, jack knifed and shoved my truck into a snow bank, hope to never tow with that truck again, the heavier 4x4 just handles it so much better