I test drove a 2.7 2000 4Runner before I bought the 2001 V6 model. I can see why your parents got the vehicle. It has anti-lock brakes, vehicle skid control, good safety record and NO power. On a 2 lane road you will not be tempted to pass because of the lack of power. On the positve side, it is a well built engine and it has a timing chain instead of a timing belt.
There are a few mods you can do, a new K&N air filter, power chip, change to synthetic base oil, get a tune up and other little things that may help a little. I belive they make a turbo for that engine, if you have the bucks. I suspect you will have to learn to live with a really great vehicle that is a bit short on power.