Well Dan, we think alike. I've been obsessed with the 80 series for a while. The basic shape is just like the Pathfinder, 4-door hatch SUV, but on steroids, AWD with a bulletproof suspension/drivetrain right out of the box. I've spent countless hours on mud, and still check the vehicles for sale list weekly. I don't own a Toyota but I subscribe to 4wd Toy Owners magazine. I've come close to buying two 3 LCs in the last year - you may recall my 4-sale post on the Pathfinder forums about 15 months ago? I have logged a few serious trail hours driving a built 80, and it is impressive.
But will I actually buy a LC? It would have to be almost perfect, partially built to my tastes, and then... maybe. Many people love the 80s with a passion, but you also see several serious expo-type people make another choice. A handful of the best built 80s in the US have changed hands in the last year, and I expect more to come. They are being replaced with Tacos, newer LCs or FJs, most commonly.
Part of it is age - most of these built rigs have 150-250k on them, and as every owner agrees, they take a fair amount of cash for care and feeding. Your comment about dumping 1500/yr into the pathy - well, the national average for any vehicle is 1100/year - that's just routine stuff. My Subaru took more than that this year for timing belt, hoses, brakes, water pump... and it is babied.
Buy an LC and you'll drop 1800 on one bumper, 1000 on a winch, 1200 on rubber - I know how you built the Nissan, and with an LC everything costs 2-3x as much.
I dearly love and respect the 80s, but personally, it would be the rare trail where i needed that level of capability, and I'm not really excited about dropping 9k on a stock, non-PM'd, 10 year old, 130k vehicle that serves as the platform for a new build. Or, a well built 80 for 15-19k, and as we all know - even a built rig isn't ever 'done' by our personal standards, PM aside.
I've been looking at the V8 4Runners, which are showing up used at semi-reasonable prices. These will also enjoy a tremendous amount of aftermarket support - so I'm certain a beefy suspension and F/R lockers can be had, as well as full armor, and that is all I need. I don't feel the need for more than 32 - 33 in tires. I'd rather finance a newer truck with 50-75k miles to serve as a build platform, and be confident in it's performance for the next 10 years of ownership.
If I was really planning a yearlong adventure, driving Alaska to Tierra del Fuego, crossing a roadless continent - an 80 may be justified. (But I'd probably get a Mog camper instead.) As far as 'needing' an 80 just to try some hard lines at Moab, that isn't me.
All that extra $$$ that goes into LC ownership can finance a lot of 2-week trips every few months, and I try to spend most of my money financing my travels, not the vehicle used for those travels.
So, there is my argument for dissuasion. Think Taco, Fronty, 4Runner, Xterra - where you can buy a 2 year old vehicle for the price of a 10-15 yr old 80 series, throw 5 grand into suspension, rubber, armor - and follow an 80 just about anywhere on the planet. If you really are following an 80, he should be able to strap you through the few spots you can't pass anyway! And you'll have plenty of extra cash to buy him a beer that night.
m.