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That's very true - both of you, and yeah torque is certainly adequate compared to the HP, 250lb-ft @ 2600rpm. Not too bad for an engine that was first developed in 1967 haha
Depending on your vehicle however, the engine management system via the PCM, manages the torque though to lessen the stress on the drive train on some vehicles. In other words you can actually remove the torque management and unleash the full capability of your vehicle at the expense of the truck or actually suv in my case itself. Both of my suv's have the 5.3 liter v8 and with just a simple PCM tune you can unleash a good, honest 20hp and additional tq (that number I don't know). The full size trucks with the same engine don't have that same limiting engine management since parts of them are made more robust than my midsized suv's. When you tow with your suv as in my case, you don't want to unleash the full potential and remove all the tq management however in conjunction with your statement above.