I wouldn't worry too much about tow wear - if the hitch can hold the weight the VX probably won't have had any issues IMO. If the hitch is ugly you can always whip out a can of rustoleum to clean it up (wire brush off any loose rust). I would get an inspection done with at least a pressure test on the engine and have someone look at the tranny/drive train and springs/shocks. These trucks are tough as nails though - even if there are issues they can be corrected - it really depends on what you can afford to fix.

-- Best, John