You flatter me, Moose.
I'll try...
Good points w/ the Tahoe...
- Same frame, brakes, etc., as a same-gen K1500 (Silverado). Probably doesn't have the engine oil cooler or the outboard trans cooler (it'll be in front of your condenser, if it's there, right behind the grille). You can add a aux trans cooler, and probably be good there.
- Longer wheelbase will help with towing (stability)
- With that being a SBC, (5.7 / 350ci), there's a ton of aftermarket support for it -- like if you wanted to eventually put in a tow cam, etc., to improve torque.
- If that generation Tahoe / Silverado had tow/haul mode, that's a nice thing to have, vs. the 360, which has none (unless you jerry-rig it, which I wouldn't recommend)
- Depending on what trans it has, it may not have electronic controls. If it's a Turbo 350, you'll lose the overdrive gear, but gain in reliability, being a purely mechanical trans. If you ever have to rebuild it, it should be a little cheaper / easier than a 4L60, etc.
Downsides:
- It's older, with all that goes with that. Older wiring. Older parts / reliability (although it does have low mileage). With that mileage, it sat a lot, and that's not great for a vehicle -- especially one you intend to put to work (it can be returned to service, but you have to go over the truck and make sure it's capable of the job you intend it to do.
- It's a SBC, so more prone to leaking oil at various places, along with all of the other things that the LS architecture improved on. And it uses shared exhaust ports for the inner two cylinders on each bank.
- People are asking more for their vehicles than average, right now, so you might be paying that premium, with the Tahoe. Also... you are 'starting over', vs. what you 'know you have' in the 360 -- so you might have to put some repairs into the Tahoe, once you get familiar with it.
- Be *sure* to check the frame out, especially if you're in an area where the roads are salted.
With those things said... you *should* be able to tow 3000lb without too much trouble with the 360, even if you have the I-6, vs the V8. The six has good torque, owing to the inline config / displacement. It's not a slouch. Do make sure your brakes are in good condition. Put an auxiliary trans cooler in. And tow in '3', vs. 'Drive'; it'll help keep trans temp down (from not continually invoking / releasing the lockup feature in the converter.) That back and forth will raise trans temps, quickly. Driving in '3' will exact a hit on the MPG (but I'd rather buy more gas than a new transmission!)
MPG -- to be honest, I think you're going to be about the same, which is to say... about 8mpg.
Part of that is that 'weight is weight', and either truck will be under load.
Part of that is because the Tahoe is running older drivetrain.
Also, check what gear ratio is in each truck. The lower the gear (higher numerically), the easier it will get the load moving (but the engine will run at a higher RPM, given the same speed.) I'd bet the Tahoe would have either a 3.73 or maybe even a 4.10, if it was equipped w/ a HD tow package. Most likely a 3.73, would be my guess.
If you're running the 4.2L in the 360, it's likely going to have the 3.42. Less of a difference compared to a 3.73; a noticeable difference vs. a 4.10.
With the Tahoe being a 4wd, swapping the gearset is expensive, bc you have to do front / rear (or disconnect the front, and use the truck in 2wd, which I wouldn't do). Same for the 360, of course.
I think that's about all I can think of at the moment.