Four link - If you choose a four link rear suspension, Use a triangulated set up. The jist of triangulated is.. it is welded or bolted in to place in a triangle type of set up on the top two links. (hence the name) You DO NOT need a pan-hard bar to stop you axle from moving side to side with a triangulated set up. A BIG plus. Four link stops axle wrap under hard acceleration, gives a much smoother suspension swing = much nicer ride, gives you roughly 16 inches of suspension travel (before you loose a driveline) and gives you more control of your ride height.
Air bags - Gods gift to suspension. Complete adjust ability, controllable ride (pending on how many lbs of air) and yes, Great for towing. The bags basically control you height loaded and unloaded and help considerably with lifting the saggy ass end of you truck when you got a heavy load.
Personal opinion - Do it!! worth every single penny. I have three trucks (two blazers and a crew cab) all bagged and wouldn't have it any other way. (The crew cab hauls a 20 foot car trailer) so you decide.