If you get a late 80's one and not one of the mid 80's ones it would be better. Personally I have had two th-400's and they are awesome, but they are not sweet on the highway. The 700-R4 has a bad rap, and some of it is probably deserved but I think for a recreational tow rig it would work fine. You could also try new rear end gears and a th-400. Good Luck.
Kyle
