The Holley is a little larger CFM (350 vs 300) than the weber 38/38, therefore more power potential, if it is ever tuned to operate correctly with the engine. I think the holley is more reliable than the weber because it has a much more reliable adapter thingey. The fuel economy is pretty bad with either carb because they are shipped w/ fat jets and have unnecessarily large accel pump capacity. Off road, they are both pretty bad as shipped, but both can be tuned and tricked to work better.
That being said, the stock Aisan 38/40 spanks them both.
Power: Aisan is 425 CFM, plenty of capacity for a 4.2 or 4.3L engine.
Reliability: Aisan is very reliable for two reasons.
One, it is designed to be reliable. Not designed to be cheap to produce and fit any engine.
Second, it fits the vehicle with no troublesome manifold adaptors, cheapo open element air cleaner, rigged bicycle throttle cable or other half-#ssed coversion parts.
Economy: carb is the right size for the engine, has economical vacuum secondary design.
Off-road: it is designed for Land Cruiser off road use.
There are some folks who report that the (insert cheap aftermarket carb name here) carb worked wonders on their truck, improving starting, power and fuel economy. They went from 10 MPG to 15. That doesn't mean the (insert cheap aftermarket carb name here) carb is better than a properly set up Aisan, it just means that the original carb they had was not operating correctly. My own DD FJ60 gets 16.5MPG at a steady 100KPH, which is pretty good for a '60 w/ stock exhaust.
I'll stop carrying on now. I hear the attendant is bringing my meds...