Actually, I don't think that center of gravity is really holding it back, especially for towing purposes. The fact that the vehicle has good approach and departure angles means that most of the mass is between the axles, and if you were really wanting to change the CG, just put a huge winch in front of the front axle.
Wheelbase isn't a limiting factor either, as an example the Land Rover Defender 110 has a wheelbase of 101" - 119" with a towing capacity of 8200 lbs in all trims. This is roughly the same wheelbase of the Bronco.
It isn't the brakes either, as the ranger gets by with the same brakes. Sure, it wouldn't hurt to upgrade them, but they aren't the limiting factor here.
What is comes down to really, is the suspension being too soft for towing. If you were to put a suspension aimed at increasing the ability of the Bronco (at the expense of articulation and compliance) you would be able to tow significantly more with it. Is that really what you want???
So if you were to change the suspension, I believe that you likely could tow as much as you could with the ranger (7500 lbs) without significant concern.
That's my 2 cents.
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