I bought a 97 3rd Gen with 197k miles from the dealership I was working at when we took it in on trade for a new KIA; I paid $1800 and I was the 8th owner. It was due for a timing belt, the front rotors were warped and after my first off-road trip to The Maze a few weeks later, it needed new cv's and the double cardan joint on the rear drive shaft rebuilt, but nothing that prevented me from getting home under it's own power. Was it the smartest thing to take an untested rig into the most remote area of Canyonlands? Probably not, but this is a Toyota not a Jeep.
After about another $1k investment, my 4Runner has been a reliable friend in all manor of terrain. In July, I towed a double axle covered trailer from Western MT to Southern FL. I do acknowledge that the 3.4 is not the best engine for towing as the best I could muster up mountain passes was 49 mph @ 4k rpm but I did reach FL on time. In my opinion the 3.4 is the best motor made by Toyota to date, just not the most powerful. D.A.V.e has 239k miles on the clock to date and I hope he can hold out for a couple of more years. When the tome comes, I hope to sell it and buy a Tacoma or whatever materializes in diesel form.