I tow my 2005 Honda Pilot w/4WD four wheels down, with the blessing of Honda Motors (following the instructions in the owner's manual). 20,000 miles and no problems.

It is important to remember that the transmission must be put in Drive while the engine is running and then shifted to Neutral, then turn the motor off leaving the ignition key in the first position so that the steering wheel can turn freely. DO NOT SELECT REVERSE AS THE LAST GEAR BEFORE PUTTING IT IN NEUTRAL - THIS WILL DAMAGE THE TRANSMISSION. Also, Honda recommends towing at 65mph and stopping and running the engine every 8 hours (put it in Drive and idle for a minute or 2, then reverse for a minute or 2then back into Drive, then into Neutral, then turn off the engine. IT IS IMPERATIVE THAT THE LAST GEAR SELECTED MUST BE DRIVE NOT REVERSE.

Hope this helps!