not talking about horse power pat. with a work vehicle, what the 3/4 and 1 ton trucks are designed for (heavy towing) torque is what matters. the motor could crank out only 50 hp or could crank out 500 hp, if there is little torque when it comes to towing a load it wont do it. horse power will determine how hard you hit something, torque will tell you how far your going to push it.
a chip is mild tuning for modern diesels, more tuneing would be changing intercoolers, upgradeing the turbo (or turboes), upgradeing the tranny, head studs, etc. most chips do not require upgradeing anything else on the vehicle.