slsail i bet you would be fine. Like Toxic mentioned get a big tranny cooler and you should be fine. You wont win any drag races but it will pull it.
Trep, There is so much more to it then what the manufacturer puts on the vehicle for a rating. Presonally i dont think mikes silverado is "overkill" for towing something. The reaility is that front drive based cars/vans/suv's arent really designed with towing in mind. Take the Chevy Equinox as an example. Sure it can tow 4800# but can it tow a 3500# boat every weekend on trips for 5 years without problems? I seriously doubt it, unless you towing really short hauls to the nearest lake and no more. first the tranny isnt going to hold up because its not built for that type of work, the axles most likely wont handle it and the thing will be a rattle box in that time frame. But on the other hand a 1500 silverado, 5 years will be no problem for the motor, tranny, or axles and it wont be a rattle box because it has a full frame.
The type of towing i do that Equinox would never deal with. My dakota is just over 3 years old now and it has 95000 miles on it. About half of those miles are towing my 882 all over the place. I dont go on short haul trips very often mose of mine are over 150 miles each way and in mountians. i go just about every weekend in the spring and summer so i rack up the miles. That type of towing would rip apart any front drive based drivetrain. My Dakota hasent exactly been prefect either in those miles, i have had some issued directly related to pulling my boat but i have had zero problems with the driveline. It can and does take the beating i put it thru. im actually thinking of taking it up to the next leven and gettin a 3/4 ton for my next truck. Mainly for the simple reason it will be able to take the beating i put it thru ant then some. The beefier suspension,axles and frame make it worth it.