Not sure of Sequoias, but the Tundra got the VVTI and 5-speed transmission in 2005.
4.7 is a nice and, from all reports, a reliable engine as long as you do preventative maintenance (timing belt and such). Mileage isn't great. My '05 Tundra gets 14 mpg average, 15-16 on a good day, and 9...