I agree with everyone else. I've had a '96 LX450, then an '84 FJ60, and now a '92 FJ80.
While I absolutely loved my LX450/FZJ80, I'm really digging the simplicity of the 3FE in the FJ80. For me, since it's not a DD, I just want something that's reliable, simple, and easy to work on--and it's hard to beat a desmogged FJ80 for that!
As far as 'pep' goes, yeah, the 1FZFE in the FZJ80s obviously have more power but the 3FE has plenty for what it needs. They're both totally dogs and slow as heck, so it's hard to really pump one up over the other.
As far as the rest of the vehicle goes, there are differences but for the average user I wouldn't think they would matter much. Except for airbags...I believe those showed up in '95. Those would be nice to have...