I know it is slow, and that doesn't bother me. I'm wondering if it will tow a 20ton tag trailer with a 15 ton load. Considering everything including brakes on it and the trailer are in good shape, will it do that? what is it rated for? I know the M35 is only rated to tow 10K and it can pull more, because I have, but the dash tag says only 10k highway for the Deuce.
Thanks
In short: legally and safely outside your own private land:
NO
My M51A2 has been made street-legal for the European Union with both a modern "fish mouth" trailer coupling (pintles are not allowed in Europe) and a fifth wheel (I can switch the dump bed for a fifth wheel and back). I can legally tow a 31 ton trailer or a 31 ton semi
BUT my max train weight is 41 ton. So I can tow the max only with a completely empty truck. Now these are theoretical limits exceeding the original M51A2 limits and no way I would try get to the max even on the flat Dutch roads.
Problem is, that neither the engine nor the brakes are suitable to do this. The engine is just your problem, it will be very slow but probably will get you there as long as there are no steep hills to go up or down.
That brings us to the second problem especially going downhill: your brakes. The M51A2 has a 60-year old system of single circuit air assisted hydraulics. Take a trailer and you double your risk of failure along the system, even with an "in good condition" system. Enough members here can testify that a good systems and even recently restored-redone systems can have a failure, either a slow leak or catastrophic hose or seal break.
Trying to handle a too-heavy trailer (for this truck) puts a lot of stress on your system.
Without air you still can brake but difficult. I would not want to try brake an M51 weighing 10 tons empty pulling a trailer of 35 tons with not enough air. In that case, hopefully the trailer is full-air so it will maybe stop the combination because you will not be doing it, at least not in time in an emergency situation.
With a brake oil problem, the situation and your truck will rapidly go downhill.
So yes, these trucks are somewhat underrated but not that much. Probably your truck could do it once or twice but with difficulties and risks. On a regular basis or any serious activity, forget it, get a more modern truck that is build for doing that.