Speckul8r -
That hitch is too light. There is just no margin in the overall capacity, and you will exceed the tongue weight. A fully-loaded 2720 (and with 5 people, you WILL fully load it) will run about 3500 pounds, and the tongue weight will be about 500 pounds. You should probably have a hitch rated at least 750/7500 pounds, although some folks report getting along OK with 600/6000.
Re the Jimmy's tow rating. I would trust the owner's manual, or go to the GMC web site and cross check. Remember, there is no single correct number for a given model vehicle. TM may be using the number for the bare-bones 4-cylinder 4X2 Jimmy, and 3500 pounds sounds about right. If you bought your Jimmy with a different engine or transmission, or with a factory-installed tow package, the number will be different. It sounds like this is what you have.
Bill
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