The timing belt kit is cheap, but paying for the work is not. Still, you could likely get that done at a small shop with a good reputation for $600-700 or so.
The 20th Anniversary is a higher priced deal. Not saying it is or isn't worth it, as there is nothing different mechanically. Just saying. Michelin LTXs are great tires for all around non-gnarly trails usage. They should get 60k miles before you start to maybe feel any tread wear in the seat of the pants. Last set I wore out was over 80k before I "had" to put in AWD for most non-dry situations.
We got our 20th with 14k miles. Cost $19k. It was one owner by a Mitsu dealer who kept it at his FL summer house. Looked like new. Managed to get an 8-year / 80k miles bumper-to-bumper for it.
Search for my thread on the rear diff. Do yourself a favor if you plan on hitting any trails, or going deep into the backcountry...
Eek. I'd have a problem with a shop that charged over $1100 to install a timing belt. There are a variety of local, independent garages in my area that do good work. Some charge through the nose, others have excellent reputations both for quality and affordability. Word of mouth, Yelp, etc are your friends. I decided to pay to have the wife's timing belt done in her Volvo as I was doing several projects at once and didn't want to deal with it. A wonderful local shop recommended by a coworker charged half what the dealership wanted and even allowed me to source my own parts.Mitsu dealer here including water pump and tension-er, just south of $1300, 8 months ago.
Mind pming me the shop just in case I need it? (not for the montero)