THANK YOU hdjeighty! You NAILED it!
So, the symptoms were unpredictable braking pressure and the occasional grinding noise during a turn. The brakes would present with a soft pedal with little resistance and a very long pedal stroke combined with very poor stopping performance on the initial press of the pedal, but a release and re-press would present full braking pressure, pedal resistance, and stopping performance.
I thought it was the Master Cylinder going bad.
A loose front passenger wheel bearing was the culprit. The wobbling rotor was contacting the caliper, causing the noise. It was bad enough that it popped the c-clip off the splined shaft which allowed the shaft to retract in the drive flange enough to strip off the retaining groove on the splined shaft. I hit the rotor with sandpaper, cleaned and repacked the bearings, replaced everything an then put 5 tack-welds on the tip of the shaft to retain the c-clip. The driver side was marginally OK on preload. I cleaned and repacked those bearings as well. Three hour job overall, but I went thru 12 nitrile gloves! Pics attached. You can see how bad the retaining ring is eroded, how deep the shaft was when I took the dust cap off, the grinding marks on the caliper, and the inner gap on the cv axle (the thing that tipped me off to the problem).
This all started in 2008 with a CV shaft replacement by the PO at a tire/lube shop and NOT by the dealership that they took the truck to for everything else... The star washer wasn't bent to retain the lock nut, which allowed both the lock nut and the spindle nut to work themselves loose over time. It took nearly 4 years to eventually work its way loose (no previous bearing repack like I thought). However, the truck was at World Toyota in Atlanta in Feb 2011 for a HUGE service at 88k miles that included Timing Belt, Serpentine Belt, Water Pump, Top End Cleaning, Rear Brake Pads, Front Brake Inspection, and 4 new Michelin Tires. Not a single mention anywhere in the service report of a loose wheel bearing then. There was no noise when we bought the truck a few months back, so I have to assume that once the nuts "broke loose", they backed off pretty quickly, making the problem much more evident.
THANK GOD for the drive flange design. The drive flange not only is the point or torque transfer from the CV axle to the wheel hub, but it also retains the spindle nuts so that they cannot back off completely, allowing you to lose a wheel. These nuts had backed all the way out until they were contacting the inner face of the drive flange - i.e. as worse as it can get with the Land Cruiser IFS system as it is designed.
Now that it's back together, all is fine with the brakes and the truck drives like new! The truck has always had a ever-so-slight looseness about it on the highway that I thought was due to an alignment (caster or toe) issue. Everything checked out fine on the machine, so I wasn't sure what could be causing it. It was tolerable, but it just didn't drive as good as either the 2000 UZJ or the 2007 UZJ that I owned previously.
Well, this fixed the road feel as well. Truck is now rock-solid at all speeds, and feels awesome!