I'll put in my two cents... I own both, a recently completed 5.3L swap in an 86 and an 85 that's bone stock with 137k miles. Both have their place, but in my opinion if you really want to use the truck it's hard to beat an engine swap. I daily drive the 5.3 truck and have put 11000 miles on it since I finished my swap 6 months ago. From subzero winters to now summer heat it starts and runs every time I hit the key with no hassle. I use it around town, on cross country trips, offroading in CO, over slick rock in Moab, towing trailers - it does it all with room to spare. Some have said the 2F is simpler, I find the opposite to be true. I'm very comfortable with the LS motors, and the OBDII allows me to monitor all key functions and any error codes quickly help diagnose problems. When you factor in the dependability of fuel injection to handle all weather conditions it's hard to beat.
The 2F truck is more of a novel drive in the sense that it's feels like a true vintage rig, but that basically means a lot less refined. My wife and I use it to run errands around town but it doesn't get any long distance trips any more and the LS truck is much better offroad (however it does have many other upgrades). I'm considering a 2UZ swap for the 85 truck to keep it a little more authentically Toyota, if not I will probably sell it . If I wanted a true unmolested 60 I'd look for something more than a US spec 2F truck, probably an HJ61.
If I had a 40 I'd be much more reluctant to stray from it's heritage. A LandCruiser isn't a weekend driver trophy piece to me, it's supposed to be a truck to take you anywhere you want to go and get you home again. The LS swap truck just simply does that better than the stock one, so I definitely think it's still true to the spirit of the design. As you can tell though, I'm not a purist.