Just my observations on owning many Chevy/GMC trucks with the infamous 700r4.
Every 700r4 I owned ('84 S-10, 85 S-15, 87 GMC K-5 Jimmy, 88 Chevy Sub, 90 Chevy Sub and 1500 P/U, 91 Chevy P/U) failed within 70,000 miles. If I remember correctly, it was always the Torque Converter that began to slip. You were also not suppose to tow in Overdrive. I'm sure this contributed to several of my failures, however my 85 S-15 with a 2. 8L and 4. 10 gears never towed, and it still failed.
However, once these units were proberly rebuilt, they were just fine. In fact, I was running well over 300hp in my fullsize Jimmy towing horse trailers and never experienced a second failure. From what I remember, these transmission's can be built to handle 450ft/lbs of torque (well in access of anything they saw from the factory).
Good luck.
Ron