If you weren't towing (and potentially towing more), I'd say stick with what you have.
I have the same year / engine as linneje, in a LWB with 3.73s.
I pulled a 24ft (tip/tail) trailer with it a couple of years ago. 4000lb dry, so near 5200 with batteries, propane, gear, etc. With a weight-distributing hitch & anti-sway, along with a trailer brake controller.
On the flats, it towed as one -- a really nice match. It *did* struggle, once I crossed the Missouri river and headed up in elevation. But I eventually got to 8000' elevation with it, and outside of going a bit slow up grades, I felt safe with that load.
I decided I'd trade in my 24ft for a 29ft, which came in at 5300 dry (plus my batteries, gear, etc., so probably close to 6000lb (the '03 LWB in my config is rated for 7000lb). Picked it up in Eastern Pennsylvania, and drove it back home to IL. First thing I noticed was that I needed to bump up the TBC by +1 in the settings, as I felt I was being pushed when coming to a stop. The other thing (as I crossed the Alleghanies (sp?) with it was that I wouldn't want to pull any more weight than what I had (e.g.; I knew I'd never go for that last 1000lb -- which isn't a good idea, anyway). So... that's what brought me to the Sierra I have now.
Anyway, I know that's not truly apples - apples comparo, but maybe you'll find it helpful.
From what I've seen, the 4.2L guys don't like putting more than about 4500lb max behind their truck. Personally, I'd give it a try with the RV trailer, as long as you're set up correctly (WDH, TBC) Especially if you're not going up mountains with it. Then judge if you want to make the spend for the engine. The 3.42 gear isn't the best for towing, and you likely know that. But since the new truck is 4x4, you'd need to swap f/r, or ditch the front diff, if you wanted to swap gears. With your current, you only have to worry about the rear diff (and that might be the way I'd go, if I were in your shoes -?) Not that there's going to be a *ton* of difference between 3.42 and 3.73 -- but it'll definitely help get you moving more easily (and if this is a dedicated tow vehicle, you could go bigger -- maybe even 4.10, depending on what diff you have). But you'll be running about 2000rpm at 55mph with 4.10 (which is in my Sierra).
The one big thing the V8 will have is that there's a ton of aftermarket support for it -- want a tow cam, etc.? No problem at all. You have your pick of many options. But if I'm spending $7500 to acquire the vehicle, I don't want to put more into it on top of that (both in $ and in time), but that's me. And although I say that, I got the Sierra 6.0L, and promptly put a whole new front suspension on it, along with doing the cam / heads. (i.e.; I spent a ton on top of the acquisition cost, myself). But I love the truck, so I don't cry too much about what I've spent on it, as now I can go anywhere with it (as soon as I get the A/C working! LOL)