The OP's question and this thread is really an important one!
The good-old timing belt question... should I or shouldn't I?
Well... I just had the same experience and read through A LOT of threads on the subject.
My V8's water pump began to leak at 52K miles. How do I know this? I took the 4Runner to the local dealer which I have an excellent relationship with. Both the service manager and his lead #1 mechanic are good friends of mine. They take really good care of me. Not that I've needed much servicing. This is the FIRST problem I've had with the 4Runner other than the clunk which they ended up fixing.
Anyway, I had the front brakes done, rotors turned, and they only charged me $211.00 and I got a fifty buck visa card coming in the mail. The mechanic noticed the leak from the weep hole in the water pump.
Damn!!!! Evidently, there have been problems with the water pump leaks in the model years in the V8's around 52K miles. OK... the service manager told me that he'd comp me the water pump. I told him that I still have time left on the extended warranty that they graciously sold me for only 600 bucks and we might as well use it.
I asked the mechanic to double and triple check the timing belt, idler pulleys, tensioners... the whole timing belt system while he had the whole thing apart... and to do the timing belt 'thing' if he thought it was necessary..
Guess what?
The mechanic told me that the timing belt had another FIFTY TO SIXTY THOUSAND MINIMUM miles left of service... maybe more!
He told me that he'd NEVER seen a timing belt go on a 4Runner V8 the whole time of the 4th Gen!
OK... sure... many would have said... do it anyway... the whole thing is open and ready anyway. Yes... I said that to the mechanic!
Sure... anything can break... we've all seen it happen in life. Things happen all the time.
With the case of the timing belt, I specifically asked the mechanic based on his many years of experience if we should replace it. He said... 'it didn't need it and won't need it for many, many thousands of miles more'.
Anyway, YMMV... being that it's an interference engine... one should do what they want to do.
BTW... the service manager said to me on the side... if anything were to happen to the engine with a timing belt failure... we'll replace the engine FREE with a factory re manufactured certified one!
This post is not to brag or tell others what to do. It's to share that the whole timing belt thing, according to the lead mechanic... is VERY conservative!!!!
The way water pumps go with Toyotas... I'll probably do both the timing belt and water belt in another 50K miles anyway.
Once again... YMMV! Just saying! :tea: