I don't think you would have any trouble at all. Make sure you use trailer brakes on a load of that size and consider a weight distributing hitch to compensate for the tongue weight (all with safety in mind).
I have towed a smaller boat for hunting and I hardly knew it was there. I never had to take the tranny out of overdrive. The '05 has many drive-train improvements over previous models. The biggest being the 5 speed transmission. Don't let the engine displacement numbers fool you. The 4.7 V8 is a very capable motor. If you didn't know it, you would probably think the Toyota motor is as big as the Ford's if you drove them both.
Be careful though! If you get a Sequoia you will not want to go back to Ford.
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05 Sequoia 4x4 Ltd. Phantom Grey Pearl, Weld 20" wheels on Toyo tires, MagnaFlow cat-back, Amsoil fluids, custom 15" overhead DVD system, Eclipse NAV system w/camera, Sirius tuner. Hybrid Audio Technologies drivers and DLS coaxials, TRU B-2110 and H-1 amps, 13" eD sub, iPod hookup. SilverStar Ultra lamps.
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