It depends what YOU need!
We have a 2003 Sequoia and love it.
We can pack our family of 6 for vacation WITH STUFF and have enough room. The truck will run the highway, or snowy roads, or dirt roads, or moderate off-road all day without a hiccup.
I will grant that the 4WD system is not as sophisticated (back-end tends to slide out until the ESC kicks in) but I can turn off the 4wd when I'm driving on dry roads and get 16-18 mpg.
We bought our Seq Ltd as a trade-in, it was about 3 mos old, for about $40k ($10-15k less than a comparable Cruiser at the time). It's still worth about $18k with almost 90k miles and 4 years later.
The Sequoia has plenty of fans over on the Tundra Solutions board (it is Tundra-based, after all). Mods are a lot more limited than any Cruiser, but there are coil kits and exhausts available if you look.
Consider your needs: If you're also looking at an Expedition/Tahoe/Durango/Pilot then you'll be very happy with a Sequoia. Do some research on Tundra Solutions and decide for yourself. If you're into (or aspire to) hardcore wheeling and the "accept no substitutes" track then your mind is already made up and you're on the right board.
Me? I loved my 80 but didn't go offroad enough to justify the $ and mi penalty.

Kids + stuff + bad road/mild trail + $10k less fits my needs well.
-G
P.S. "Real 4wd" means part-time transfer case, just ask the fj60 guys
