Ex-BJ40 owner here, though I was lucky enough to run the 'big block diesel' aka 3B. Lol. It was my daily driver in Cairns [flat, 100k people, very little traffic, epic off-road/camping/fishing lifestyle] and Brisbane [hilly, 1.2m people, bad traffic, city life]. It had a 4 speed, Fairey overdrive, 4.11's and 31's. It also had no top, so there's a good couple hundred kilo's.
Honestly, it was a slug. As others have said you kinda have to fight to keep up with modern traffic. I'd hate to have the a/c on! Off road however it was unstoppable. Toyota designed these things [mostly] for off road use. It wasn't until the late 80's that improvements were added for more comfort and highway use.
But they can be made to work in modern driving conditions.
Money no object I would:
1. Ditch the B and run a 13B-T.
OR.
2. Freshen up the engine with boost in mind. Low boost turbo, around 10psi. H55. Disc front, single slave FF rear with FJ80 booster and master. Keep the 4.11's. 60/75 series power steering. Air if you can. 33's for fun.
FYI that H55 is a 60 or 70 series unit. Unless it came from a BJ60 or a BJ73/74 then it has the wrong input shaft and will need to be changed to mate to your B. Which brings me to my last point: Some of the work those third world shops do is incredible and ingenious. Some is not up to scratch. Pay your due diligence!
