RX300 FWD ok for towing?

[motoguzzim]

Hi folks, newbie here. Bought a friend's 2000 Rx300 FWD with 85K miles a couple of weeks ago and I am really enjoying the quietness, thoughful layout of controls, large sunroof, good lumbar support, good visibility etc.

I have been reading that towing should be avoided but a friend used to tow a heavy boat with his and said it was a great tow vehicle. What's a newbie to believe? I'd like to tow my utility trailer and Sunfish sailboat - both light loads. If I were to add a trailer hitch I always add a transmission cooler at the same time. I haven't looked underneath yet but it sounds like this car may already have a questionably placed one installed.

Also, it sounds like you either get a good trans or an "early failure" one. Is there any way to tell which before the failure? Are the "good" ones doing OK with towing? Are any of you happy with this vehicle and towing?