Personally, I'd stick with no lighter than a 30 in there. Most older American engines weren't designed for super thin oils. In light use, it would be fine, but in heavy use (such as the towing you're doing), even if you have enough oil pressure, the thicker bearing film, etc. is still beneficial, particularly in an engine that makes a lot of low end torque (high throttle, low rpm running can be hard on bearings).
I'd agree with the mentions of T6 previously. It won't make any detectable mpg difference with that engine / vehicle combo, but it may help out in terms of engine lifespan.
I've dealt with marine 454s, and under heavy load, they can get the oil [censored] hot. In the case of 1 I've dealt with, normal oil pressure at hot idle is about 38 psi. After running under load (3100 - 3200 rpm, around 2/3 throttle) for 30 mins or so, if you idle it back, it'll show about 20psi of pressure at idle (yes, it has an oil cooler). The pressure slowly comes back up as the oil cools down under lighter load running. That's with 15w40 conventional Rotella in the crankcase, BTW.