I think on the Burb and Tahoe the towing package includes the external engine oil and transmission fluid coolers, both of mine came that way
I don't think all of them did. My '98 K1500 Z71 with towing package has the engine oil cooler in the radiator (which I thought all of the Vortec 5.7 engines got, but I could be wrong) and has the transmission cooler in the radiator like every automatic GMT400 has, but does not have the additional external transmission cooler.
I did not think there was an external engine oil cooler option? I thought it was just the cooler in the radiator end tank.
My Tahoe Limited has external trans and even has a power steering cooler, but no external engine oil cooler.
The K1500 definitely heats up the transmission on long grades, where the Tahoe doesn't seem to have a problem. Both of them heat the engine oil up based on watching the pressure gauge, and I would definitely not want to delete the cooler entirely. Essentially every modern car has an engine oil/coolant heat exchanger, either in the radiator or built into the engine somewhere. It's critical that oil temperature stays in the happy range between around 190F and 250F with the extended oil drain intervals most people like to run. You can get away with running outside of those limits if you change the oil more often, and synthetic oils can handle a bit more (intermittently) on the high end without seeing viscosity and shear film degradation.
@Supercharged111 300 degrees oil temperature is hot! I used to get about that high (285F in the pan, which is aluminum, finned, and hangs in the air stream under the car) in my turbo BMW track car after ~5 hot laps and then I would back off. Eventually had a mild engine failure caused in part by cooking the oil behind the rings and seizing them in place. Came off track after seeing oil pressure start to bounce only to find I'd been pumping oil out the breather and had filled the catch can and overwhelmed the separator. It was a quart low before it started to starve. Cylinder pressure straight into the crankcase with seized rings...had 75 psi compression on all cylinders.
That car now has a very nice external oil filter head with an integrated thermostat from Improved Racing, which would work great in one of these trucks too. Oil temperature would then stabilize around 270...and some further tuning showed I had too much advance. Pulling 2 degrees at WOT dropped my oil temperature to 240 degrees (30 degree drop!!) with almost no impact to power.
I had a 4th gen (1994 Z28) for a while, that's a tough application for cooling. Only did one track day with it, but that sucker setup feeding the radiator managed to pull in an unbelievable amount of rubber and track debris.