I'm not sure how the Disco would best a FJZ80 on the highway....the D2 is pretty gutless.
As far as off-road is concerned, the stock traction control is the same unit in the H1 Hummer. Despite being pretty basic, it's actually quite good and can get you off of off-camber situations quite well. If your D2 comes with the centering-lock diff (stock on the '04, 99 and 2000 have it in the T-case but needs to be hooked up, and '01-03 needs a new T-case), it only helps.
The transfer case is the best part of the Disco. It's a 3.2:1 reduction and it is helical geared. It's solid. The axles are marginal, but the traction control usual protects them quite well........so do the diff spider gears, they explode before the axles go. (I've never had it happen, and I wheel in Moab). It's usually an issue with extreme tire sizes. Generally speaking, putting a locker in will fix the spider gear issue (at the expense of shafts, but HD shafts are available $$), or most folk go with the Detroit True Trac. Coupled with the traction control it is reported to give near-locker performance but with enough slip that HD axle shafts aren't a necessity and the spider gears aren't and issue anymore. This is the route I will eventually go.
The 4.0L V8 (I haven't drive the 4.6, same block, just more displacement) is Jekyl and Hyde. It's performance reminds me of the Jeep 4.0L I6, which isn't a bad thing. Maybe even a bit better. It has excellent torque control with the throttle and a very nice off-road friendly torque curve. It's aluminum, so you have the weight savings too. I haven't driven the Land Cruiser to compare, but my guess is they are probably similar. You don't have to worry about a timing belt, but you will have to keep up with the cooling system as head-gaskets and slipped liners are the death knell to the D2's power-plant. It's old school technology, it's essentially an old Buick block that LR has put Bosch fuel injection on. Parts are easy and you can mod it how you want. Just keep up with the maintenance.
Departure Angle is an issue, but that's a price you pay for the awesome cargo space. The design of the towing hitch and rear frame generally protect the rear body from any ledge damage though. You just hit the hitch a lot when descending. The approach angle is moderate....a new bumper will be required for any serious rock crawling work (which means a rear bumper will shortly follow...)
What I LOVE about the D2 is that you have all the luxury and comfort of my old Jeep Grand Cherokee, but the 100" wheelbase makes the D2 perform on the trail more like a TJ Wrangler and less like a bigger Ute like the Grand Cherokee. It is seriously fun to drive, and fairly responsive.
The popular build is a mild 2" OME lift (the springs come with load choices....soft and flexy or overland-friendly high-capacity springs) and 32" tires. Not serious by any stretch, but with new bumpers and the 100" wheelbase, the D2 really does not need much more than that....unless you are going serious Rock Crawler build. The LC should be able to fit 33"s stock, right?
I would imagine a Land Cruiser with factory lockers will out perform a stock D2. A LC without lockers, the edge should go to the D2 with traction control. My thoughts.
