Towing Power
I found this old article interesting about mods on an older 460:
http://performanceunlimited.com/projectmpg/index.html
As for the trans. I drove a 1 ton cube van for work(courier) that had had some flow work done to it(E4OD model) and that really crisped the shift points up, and made it work much better. You'd have to talk to a pro-trans shop, as I did. I'm from Canada, and had some towing performance mods done to mine, as well as the addition of a heavy duty trans cooler to it, to help keep it running smooth. My rig at the time also had an in-line spin off filter I could change with regular oil changes, and then top the trans up again(usually a half liter) to keep the trans fluid changes minimal, but that was an option I chose to add...regular maintenance is good enough for normal use. I drove an average of 2500Km's per week, under heavy load, with lots of highway, and lots of start/stop in-between, so the rig needed to be ready for abuse.
The chip may help you out a bit. It generally involves re-mapping your fuel injection, as well as your shift points in the trans to work in combination.
If you're constantly running at high altitude, it's recommended, but do allow them the variance of you running on lower ground, as it could happen once in a while, which will allow the best of both worlds.
You may want to consider mapping the EFI for regular fuel at high altitude, and it would run fine on premium, if you were to hit lower altitudes for a while, per say. Just a thought. Re-mapping involves everything from timing to fuel to fuel metering to shift points.
You want a truck that can do it all, not one that will only live in one environment, unless you never come down off the mountain.

That being said, choose any mods you do carefully, so that they will work in all environments.
No, you won't maybe always feel the seat of the pants feel up high, but that's the world you live in...coming from a man who lived in that world for many years, I sacrificed a lot to have a good running truck, rather than one that performed in my envornment. I spent to much time pulling over to re-tune for so many things, that I eventually gave up on that and tuned it to work in all the environments I ran in, and it ran well in all, but with a bit of a sacrifice in each.
It really depends on you.


