Ford F150 Lariat with EcoBoost (V6 w/turbo) - ok for towing?

SouthernTrailsGA - we're in North Texas, so it's pretty darn flat here. Our regular hauls are to Ft Worth (once a year for a show - 75 miles), Sulphur Springs (4-7 times per year - 55 miles), and local parades/trail rides (3-4 times per years max 20 miles). By most definitions, we're light weights when it comes to traveling with our horse. ;). That's why we're looking at F150s with all the proper towing upgrades.
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Diesel is twice as much? Wow. Its a bit more'n gas is here, usually 20-30 cents more I think but varies quite a bit. But the better fuel mileage im getting with diesel makes up for the price difference.

Its not just about power when towing. That's a lot of weight for a half ton with a bumper trailer. It will get it where ya need to go, but its really going to wear the truck out

I just checked the gas station on our way out to the ranch. It's only $0.75 cents more right now, but that adds up quickly when you fuel mileage is 15/21 and you put 300 miles a week minimum on the truck.
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I think you might need to re-weigh your trailer. The Dakota 2H slants w/ tack I was looking at earlier this year all weighted under 3,000lbs, NOT 7k! If your trailer is in fact hitting at 7k, you do need a bigger truck, but if you Dakota is more 'normal' weight, the F-150 should be fine.

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The GVW (7,000) is the max total weight that can/should be loaded, NOT the empty weight of the trailer. The trailer by itself weighs in at 2,650. So that, plus two 1100lb horses and tack should come in about 5,000lbs total, plus whatever crap you accumulate in the tack room. That is well within the safe towing capacity of an F150. You'd be fine.

Sharpie - thank you! DH has been telling me our trailer weighs 7,000. But upon doing more research, I found our empty trailer actually weighs 2,320. The GVWR is 7,000 (and also just learned that that is the maximum load for the trailer).

So, your comment has really helped clarify a few things for us. With that new knowledge, I feel confident a F150 can haul our trailer and two horses...plus all our other "crap". ;)
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Just proves I shouldn't trust DH to read the sticker on the trailer and understand what it meant. :)
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There's no replacement for displacement.
Gadget engine with gadget doodads. I wouldn't touch it. While it gets ok mileage empty, according to several reviews, when towing around a 5k load fuel mileage plummeted down into the single digits. Not to mention premium fuel is recommended for towing. So there goes your fuel savings while light loaded. So many other decent tow vehicles out there.

I know fuel economy will be bad when towing. With our borrowed F250, we estimate we get between 3-5 mpg when towing. The problem is just driving around it gets a lousy 8 mpg.

Since we only tow one to two days per month on average, I would much rather have a vehicle that gets better fuel economy the other 90% of the time. The car DH currently drives gets 22/28 mpg...so, this will be a big change for us.

Ultimately, our goal is to have a vehicle that can safely tow our trailer, but is also a decent vehicle the rest of the time.
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Maybe there was something wrong with your friends 250? I drive a 250 as my primary vehicle and I'm getting close to 20 mpg city. I recently made some changes to my truck and at the last fillup I was at 17. I need a few more fillup a before I feel confident about what my mpg is. I am still double digits when towing (guessing around 13).
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Ive got a 2006 Dodge Cummings turbo diesel crew cab 4X4 gets 16-17 towing. I've been down the jack of all trades master of none truck route and it simply doesnt work, you end up with a marginal tow vehicle and a fuel inefficient commuter. For the money you are going to spend on an 2011 wizbang 150, you could buy a 3/4 ton 2003 ford with a 7.3 diesel, or a 04-06 Dodge with a Cummings, and have enough left over to buy a decent commuter car.