@Cruzerman Others have a lot more knowledge/experience on this topic and most of mine is second hand but I'll share my take on seal w grease vs. no seal w gear oil in the rear hubs.
As you note, rear bearing failures aren't that common with the seal/grease setup. In the long-run, if the seal(s) fail then gear oil cycles through anyway meaning that the bearings are pretty unlikely to run dry. I went with the no-seal, gear oil in the hub option not to try to avoid bearing failure but for the following reasons:
- assembly was easier as I didn't have to install the new seals and pack the bearings
- service is easier since replacing the lube in the hub bearings will happen when I drain/refill the center diff
- gear oil is arguably a better bearing lube than grease but either way fresh lube is better than old and given the easy service the gear oil will stay fresh
- most full float rear ends run this way apparently so it's a proven option
My main hang-up was asking myself why Toyota chose the seal and grease option as I like to go stock unless there's a good reason not to. I didn't really find an answer to Toyota's logic on this so the benefits above won out and I've not had any issues in the year and 10k+ miles I've driven without the seals/grease.