What's the trailer weigh?
What's the truck weigh (curb weight)?
What's the HP/torque of the truck?
What's the truck's tow capacity and max tongue weight?
IIRC, 4.6 is a 302, which produce something in the range of 280HP/250lbs of torque. *IF* those numbers are right, and assuming the 27 is about 5000 lbs, I'd want a bigger truck for going around the country. Towing across town/county a couple times a year would be different - long trips get exhausting when using too small of a tow vehicle.
But let's see some real numbers before we declare the 150 uncomfortable.
Two-wheel drive is pretty irrelevant, except from a vehicle weight standpoint (4WD is heavier because of the additional front differential, center diff, driveshaft, hubs, etc). Weight distribution is slightly different too (4WD having a better front/rear distribution).
From the other recent discussion about tow vehicles:
Trailer Towing Guides | Trailer Life Magazine