I've got an '89 Grandby on my '03 Tundra -w/ air bags- and haven't had any problems. The truck doesn't feel it and braking has not been a problem (I had brakes checked before and after the trip). Is it slightly over weight? Yes. I weighed it on the way to Baja and was 100+ lbs overweight. I think your 2007 has 100-150lb higher GVWR than my 2003. I put close to 7000mls on that trip and had no problems.
The air bags help ride but do nothing to help axle shaft or wheel bearings. My suggestions would be to check bearings more often (I'm guilty of not doing that) and be prepared to replace an axle shaft in the field.
Keep weight down where possible. For instance, I removed the rear seat, which I would guess weighs 35 or 40lbs. I also built a flatbed which shaved 40lbs off the weight of the stock bed and gave much more storage room. Keep weight as far forward as possible. With this in mind, I will be moving my water tank from the back to under the storage at the front of the camper.
On that same trip I met multiple people with Tundras and MUCH larger campers than ours - Jescos, Hallmarks, even some hardsided units. Some were on their third trip with out any problems. Not to mention all the early 80's hilux's carrying 2 horses in their beds! All this doesn't mean you won't have any problems, so don't come knocking if the s#@t hits the fan!
For me, part of the beauty of our campers is the ability to use them with 1/2 ton trucks. If I had a 3/4 ton truck, I would have a much larger slide in popup. Just my 2 cents.
I say put it in and enjoy both the camper and the best 1/2 ton truck out there!