Ok, I found this while through tire sites and it lists numerous makes and models and what size tires can fit:
http://www.bfgoodrichtires.com/assets/pdf/fittment.pdf
In the Toyota section it shows that the '97- '03 4Runner can fit 31X10.50 tires on a stock vehicle. For the '04-later 4Runner/Lexus GX470 it says it can fit 32X11.50 tires on a stock vehicle. The '97- '03 4Runner can fit the 32X11.50 tires but with minor trimming and a 2" Suspension Lift.
Ok so what gives? What changed between 2003 and 2004? Or is this just a misprint?