Here is my .01 (uncle sam has the other half).
Before my Av I had a 98 Z71 Silverado, 1500. I towed a 25 ft fifth wheel, I think it was somewhere between 5600 and 7000 lbs....anyway. The 1500 did a decent job hauling it from Portland to the coast however, when we went from here to Colorado it was way underpowered for the trip, there were times when I hit a headwind and with it floored I was barely able to go 55. If you tow, you owe it to yourself to have the HP to pull it no matter the circumstances. As far as gas mileage, speaking from experience, in a 1500 you get worse gas mileage when towing, that is one of the benefits of a 2500. I have a 1500 now, but no longer tow anything other than a utility trailer, even though I love it, if I decided to get a travel trailer I wouldn't consider anything less than a 2500.
Robert