Had an 05 Tacoma for a few hours Saturday morning. All of my opinions are formed by two things: expectations I have formed from lots of reading and my feelings about my current 4Runner.
2005 Tacoma
V6, Auto tranny
Double cab, Long Box
TRD Sport Package
Tow Package
The other usuals
$30,xxx
Engine/Power & Transmission:
Everything is very smooth. Power is applied evenly thoughout the RPM band, shifts are smooth. The truck is by no means quick. At very low speeds, my 4Runner feels like it has a bit more jump, but the Tacoma does have more power across the board, especially at higher speeds. I guess the best way to put it is that the Tacoma has more power, but my 4Runner is more responsive at the gas pedal. I also noticed that the Tacoma wasn't especially quiet. It was by no means loud, but not as quiet as I was expecting for a brand new Toyota. Engine noise was slightly better than in my 4Runner - road noise was far better (though the tacoma didn't have MTs, so...)
Power is still a concern for me.
Suspension/Ride/Handling:
One of my biggest disappointments from my initial test drive was the handling. I thought the truck felt big and had a tendancy to wallow in turns. As such, I spent a fair amount of time getting a feel for the Tacoma on twisty back country roads. All of my previous disappointments have been erased. The tacoma is obviously not a sports car, but it rides and handles very well for what it is - a relatively large pickup truck.
The truck does tend to lean just a bit as you enter a turn, but the body roll stops there. I wasn't Mario Andretti with this truck by any means, but I did so some "spirited" driving, and the the truck did great. It was smooth and confident in the turns. The suspension was solid over rough roads. If you want a fun commute to work every day, this is not the vehicle for you... however, I would have no problems driving this truck on a daily basis - and I cover about 30 miles of back country roads between my house and work.
Feel/Fit/Finish:
I didn't spend a lot of time here, but there are some things worth pointing out. The seats (at least the driver's seat) is super comfortable. There is some nice side bolstering and manual lumbar support which fits my 5-8 175lb frame very nicely. The back seats are also pretty decent. I put the driver's seat where it would be if I were driving, then sat in the back. I didn't have a ton of room, but my knees did NOT hit the seatback. The angle of the rear seatback is good, and I would have no problem sitting in the back on an extended drive. I also had my 2-year old daughter (and her car seat) in the truck. She also fit very well. She is very tall for her age (taller than my 3-year old neice), and her toes just barely touched the seatback. By my estimates, there is bascially the same amount of room in the back of the tacoma as there is in the back of my 4Runner.
The dash/insturment panel seemed good - controls seemed to be in good place, easily reachable. Steering wheel mounted radio controls are kind of nice.
The truck I had came with a heavy (rubber?) bed mat. I thought it was very cool... not sure how functional it would be to someone who really but the truck though the ringers, but for light duty use, it would be a good thing to have. There are also adjustable tie downs in the bed - very handy. And Toyota finally remembered to put the oil filter in a good location (top front driver's side corner, kind of in line with the spark plugs) so oil changes would no longer be a nightmare.
Looks/Aesthetics:
I really only have 2 major issues here: first is the 265/65-17 Dunlop Grandtreks that came on the truck. They are rated M+S, but I can't imagine they would never survive a winter here in the northeast. The other thing is the hood scoop. It looks OK from the outside, but front the driver's seat, it kind of gets in the way. I've never been a hood scoop guy though, so take this for what it's worth.
I'm not a big fan of the chrome grille/rear bumper, but the sport package takes care of this. The interior is very nice, though the dash/instrument cluster looks a bit like it came out of a car - nice, just a bit "soft".
Over all - 4 stars (out of 5).
The biggest issue I have is why would I spend $30k for a V6 Tacoma when I could spend $33k for a V8 Tundra? I would be using the truck as a DD and for towing/hauling - no offroading in the plans for this truck.