That whole Toyota reliability thing is mostly a myth. At the time they were better than their domestic counterparts, so they need a little less work a little later in their service life...but still need attention.
I have owned them going on 26 years now...sure I ran them all to high miles, but they all needed help getting there.
The '85 4Runner with a 22RE seized at 125K miles (also needed a clutch at 60K miles, it went out on me on the way home the day I bought it).
That engine lost its' oil pump as far as we could tell. Put a used 50K mile engine in it (did a new clutch and flywheel since we had the engine out), that engine needed a new bottom end at 150K. Sold it at 225K...tranny was popping out of gear the last 50K with that vehicle...the Birfs are fussy too.
The '92 RCSB, a little better, but a bunch of little crap was going wrong with all the time. Ball joints at 90K, Lost its clutch at 125K...trans was popping out of gear too, sold that at 150K. It liked to eat exhaust gaskets, ending up putting a header on it to fix that issue...engine had tick when I sold it.
My '99....at 376K currently...need to spend about $1500-2000 on it a year to keep it going. This year was rack, tie rods, and cam shaft seal, last year was fuel pump, year before that was oil cooler seal, clutch/flywheel, injector o-rings....year before that valve cover gaskets, and rebuilt the whole under carriage...CV's and axles/seals, shocks, bushings, ball joints, rearend bearings/seals, new driveshaft (which is number 3 for it), 3rd member rebuilt, its' 3rd carrier bearing....the list goes on and on....currently the slave cylinder is starting to weep a little.
There is a thread on Tacoma World, about how much repair work needs to be done to a 1st gen Tacoma after people bought them. (I''ll have to try and find it) Seems like the cost range from $5-7K just to bring it up to par.