Booosted Supra
Observer
Looks like a really nice truck and nice start to me
2nd gens didn't have trans problems as far as the unit, the unit itself is actually very indestructible. The ones I replaced in my time working for Toyota/Lexus were few and far between. The problem with automatic trucks was the amount of power you lose behind the 3.0(that everyone hates). The best modification I did to my drive line was do a 5 speed swap. I have been driving this truck going on almost 8 years and for about 5? of them it was automatic geared with 5.71's and the automatic still couldn't keep up.
Other problem they have is the head gasket recall. Everyone blames the 3.0 for a lot and the standard answer for repairing a 3.0 among the Toyota world is "3.4 swap it" because of the HG problem and "poor gas mileage" but to be fair we are comparing two different motors from two different generations of trucks and from two different times. Comparing a 12v SOHC to a 24v DOHC isnt fair at all. In the same time frame the 3VZ-FE DOHC didnt really have much more impressive power. Any rate, if the repair was done correctly the 3.0 is very under credited and is very reliable and is very bullet proof. Proper choice of gearing helps a lot too depending on your application.
The other problem everyone complains about is the IFS system. The IFS system is also very under credited. The standard answer is to SAS. In the 8 years of abuse on my 5.71 set up(which everyone swears is the weakest) locked front AND rear, I can count the amount of CV failures I have had on one hand and the truck is not used lightly and carries a heavy load on a daily basis as it is my ONLY vehicle. The weakest link in the IFS after locking is the passenger side "stub shaft" which will twist off like a bottle top but can be modified with no problems to be reliable. Flex is a complaint but my truck goes anywhere I want to put it and everyone I am on the trail with is either SAS'd or in a factory straight axle vehicle and I can assure you we get into some pretty hardcore scenery. The weak link is the steering, the idler arm and tie rods. The cost of upgrading these items IS the difference between a properly done swap. Other then that I do not have a bad thing to say about the IFS system as I have pushed it on purpose to prove a point over the years and even had it on 39.5 TSL boggers to see how long it would take the abuse.
The 2nd gen I feel is more of a simple truck compared to the 3rd. Less computers and luxury items to worry about, I seen someone say their 3rd gen had rear head, 1st(if they had the option) and 2nd gens also did. Depending on your direction for your built IFS vs SAS the cost difference is dramatically higher on a 3rd gen, but here again it depends on which direction you go. I think the seats are more comfortable, as far as room they are basically the same, the dash board in the 3rd gen and a lot of other misc interior items look basically like the 2nd gen just more updated. For me simplicity is key, and I kind of feel bad chopping up a newer truck to my needs compared to an older truck which has already been thru the hammers and could use some fixing and modification to fix problems. I can go on and on.
Pics of my 4runner are in the link in my signature below. I am def not downing a 3rd gen or any 4runner either, just my insights on driving a 2nd gen for so many years and being around Toyotas of all kinds as I do work for the company
I'm guessing that the timing belt, H2O pump, pulleys and ball joints would be around $1K-ish based on the aforementioned resource - Thank you, btw, one80auto, for that great resource. I'm waiting to hear back on the car. It belongs to a soldier now in Europe and his mom is helping with the sale. She is going to give me the skinny on the records.
The additions I liked in the T4R Highlander was the cloth interior, 2 12v & 1 12v in the rear,
I disagree but, then again, that's what the internet is all about, no?LOL!
Your point about apples and oranges with regard to the 3.4 and 3.0 isn't really valid. While the 3.0 isn't a BAD motor, it is significantly harder to work on, and simply has less power. Since the OP is comparing the two versions of the 4runner, the power difference is a very important factor to consider, depending on your needs. Mileage is pretty similar.
As for the IFS, I agree with your points about IFS vs SAS. My 87 had 35's, dual ARB's, Dual transfers with 4.7 gears in the back case, a full flat belly, relocated gas tank, 3 link rear, and got wheeled pretty hard. Zero CV failures. Steering sucked.
However, if the OP wants to keep it IFS, the third gen system is superior in ride quality, and maintaining alignment. Torsion bars seem to work well under a heavy 100 series LC, but under a lightweight truck like a 4runner with a V6, the ride of a coilover is much better.