So first of all I'd like to thank everyone in this thread who took time to reply, I have also learnt tons from simply reading at several threads, so cheers to all of them too! I often find myself simply reading to some threads that don't even apply to my build but are a delight to read.
I'd like to share a few pictures and insight as to where I am at this stage, one year after buying my first FJ40 for restoration.
First, after nine months of little to no progress I decided to take a step(s) back and do the whole thing as a frame off restoration: The chasis, suspension, differentials, brakes, engine and tranny rebuilt and installed in one place while the body is being rebuild at a specialized shop (damage was heavy as it stood for 20+ years sitting outdoors).
There have been tons of repairs so far and we've been surprised with some of the fixes it had, like a sink brass base acting as a replacement for a seal in one of the steering rods.
We've been fixing things as best as we can, like the base to where the steering damper is attached which was broken. Rough fix, but it works.
So here are a few pics of the chassis before the restoration, not kidding, about 20 lbs of rust and dirt came out of the innards of the chassis.
Still have a long way to go but I just wanted to take some time and say cheers! to you all.
This is the progress so far with the new drum brakes, cylinders, rebuilt differentials (seals, bearings...), leaf springs, new shocks, steering rods, rebuilt steering box, rims....