I’m coming to an 80 from a 2nd gen Taco.
The taco has better acceleration, and if you keep the front sway bar, handles better on the road. Sometimes having a bed is really nice. If you don’t mod it, you’ll get better gas mileage; however from talking to some folks at the overland expo, the 3.5 doesn’t like extra weight and gas mileage suffers more than it did with the 2nd gen 4.0 motor.
As far as ability, I went everywhere with the 2nd gen and never worried about going alone. Bring spare CV’s, tie rod ends, a spare rear drive shaft, and the tools to do a trail repair. In 4 years of wheeling I never had to do a trail repair, but I’m a slow and steady wheeler on the obstacles instead of skinny pedal smash. A-Trac saves CV’s and works almost as well as a front locker.
If the 3rd gen has the same crossover pipe the 2nd gen, make sure it’s protected, and a high clearance rear bumper is needed. I recommend one with rear quarter panel protection too. Further, it’s almost impossible to source bedsides to replace cut ones. If you aren’t 100% sure on keeping it forever, but some fiberglass sides to cut and put your stockers in storage. Front wheel travel with a typical 2.5” lift is less than 1” down travel with typical 5-6” of up travel depending on your suspension set up. DO NOT cheap out with a puck to give you lift, you will either destroy lower ball joints or ride quality depending if you go on top of the coil vs in coil.
Now mine was heavily modified with Icon coil overs up front, swapped the springs for 700# 14” kings to reduce preload. All-pro rear expo leafs with icon 2.0’s smooth body’s in the back. Full armor, bed rack, and RTT, 33’s with light Konig rims had me tipping scales at 5400 lbs.
All that said, I found my modified taco felt very similar to my stock land cruiser. Being able to fit 35’s on 300k old stock suspension blew my mind. Birfs are much more robust than modern CV’s. And having everything safe from the weather, and from walking away at a gas station are also great perks. Basically, I don’t care about how long it takes to get to 65 mpg, which is where the taco wins hands down. But if you spend enough money, you can make it so it will go where your LC goes, but expect that investment to be in the neighborhood of 12k to really do it right.