I had a 2008 with 290k on it, ran great no major failures or signs of major wear, a few switches I replaced like 4 wheel control switch but other than that, exactly what I would expect from a Land Cruiser (yes that is a shot to all newbies to cruisers starting out with a 200 thinking mileage...
The 1FZ Carbed will never pass smog even if you added cats so don't go down that path, and without that unless you are in one of the few area in Cali that don't require smog trying to get Cali reg is futile.
It can handle racks in receiver, and a lite duty trailer, small travel trailer, but beyond that you are looking for trouble, keep in mind the short wheelbase (on the non wagons or p/u) also do not help from a control standpoint