I think Darrin is correct on all points.
A half ton is a bit light. I started towing with an 84 F-250 3/4 ton and have now moved up to an f350 super duty.
The towing difference is night and day.
The biggest problem isn't pulling, it's stopping.
That said, many here pull with 1/2 tons, and I'm not here to contradict them, but the larger the truck the more comfortable the tow, or, at least that's what I've found.
On a truck that age, plan on spending some money on repairs. As Darrin suggested, you might want to take the truck to a trusted mechanic and see what he thinks the truck will need in the first few months, how much it will cost, and if he thinks it's suited for your towing requirements.
For example if you need a hitch and brake controller installed plan on spending several hundred.
If it needs brakes, plan on $100 to $900 depending on condition of rotors, wheel cylinders, etc.
I know when I bought the 84, I've sense put another $3000 in it to get it safe and reliable and I did the work myself. I replaced so many parts I wouldn't attempt to post them all, but, the list includes, master cylinder, rotors, wheel bearings, ball joints, shocks, tires, radiator, gas tank, fuel pump, power steering pump, all hoses and belts, yada...yada....yada....
That was spread out over several months, but the first year I was constantly working on it.
It's a fine truck now, however.
Last edited by gunslinger; 01-21-2012 at 12:59 PM.