On my previous 2002 LC100, I had factory-fitted conventional suspension. My 2006 LC100 has AHC/TEMS system exactly the same as LX470. When the system is healthy, the ride is far, far better with AHC/TEMS because of the adaptive damping provided by the TEMS (Toyota Electronic Modulate Suspension) system – 16 steps of damping determined in real time all the time, selected automatically by the system for road conditions, driving style eg speed, braking, turns, and by which of the four different ranges has been selected at the switch on the centre console – “comfort” through to “sport 2”.
From far away in the home country of ARB, the quote for ~USD4,000 for Old Man Emu Upgrade is surprising – maybe it includes the top of the ARB line OME BP-51 adjustable bypass shocks? These are expensive. As indicated by
@jLB, the quote also may include the other stuff which goes with a permanent lift.
If this is mainly a street/highway vehicle, it seems unlikely that you want or need a permanent lift?
Certainly any change-out from AHC/TEMS suspension must include replacement front torsion bars and replacement rear springs, even if only using conventional Toyota parts. The AHC/TEMS carries part of the vehicle weight and so the torsion bars and springs are much lighter than the equivalent conventional suspension which must carry the whole weight of the vehicle.
Slee seems to have a good reputation on this forum and in your part of the world – suggest a further discussion with them to clarify exactly what they are offering.
However, fundamentally I concur with
@suprarx7nut. If the underside of the vehicle is in good condition without excessive rust, refurbishing the AHC/TEMS with some replacement parts is the way to go, at much less cost than your current quote for a replacement suspension. This would restore a long-lasting level of ride comfort which cannot be equalled by any conventional suspension. At 190,000 miles your LX470 is not done yet, but it may be ready for new ‘globes’ if not replaced recently, plus a check-over of the Height Control Sensors, and re-setting the system pressures (easy at the front, may involve new springs at the rear). None of this is difficult nor inordinately expensive with careful purchasing -- and there is plenty of IH8MUD advice on where to go for replacement parts. The offer by
@suprarx7nut for a quick look-see is hard to beat.