About 4.5hrs of labour + parts to replace the water pump, timing belt, and drive belt on a 2UZ-FE (+.5hrs to replace the Cam and Crank Seals on the Non-VVTi variant in the rare case one or more may be leaking). If the vehicle is over 150k I usually recommend also replacing the thermostat and radiator cap while doing the work, mainly because by about 100k the radiator caps seem to start seeping pressure and while I haven't seen too many thermostats fail on Toyotas, it has likely been in the vehicle a while and while I have it off anyways it's cheap insurance for the customer and I.
If you have a 2UZ-FE with VVTi and the Cam Seals are leaking (look at the valve cover where it clamps over the front camshaft bearing cap, it'll look like the cover is leaking from the corner where it meets the engine, but it's actually seeping from the seals behind the metal timing belt shield and running down the front of the engine. It looks something like this to varying degrees of wetness/griminess:
This is Toyota's brilliant way of designing the cam seals for the VVTi variant of the 2UZ-FE:
To fix that, the camshafts have to come out of the vehicle and need to be disassembled to get access to the seals to replace them. That will be about 10hrs labour (depending on how bad the leak is an additional .5~1.0hrs of cleaning time and 4-6 cans of brake clean may be added to the quote), includes timing belt, drive belt, and water pump replacement, valve cover gasket replacement, and cleaning of the residual oil mess (in this case if the vehicle is over 150k I'll recommend a radiator cap, thermostat, and PCV valve replacement while doing the work).
Now some shops may be quoting less hours to get the job done, but as a general rule of thumb at most if not all dealerships: Customer Pay Rate is calculated at minimum 1.5 x Warranty Time, sometimes rounded up to the nearest half hour for the sake of simplicity.
Warranty Water Pump Replacement Time on a 2006 2UZ-FE 4Runner: About 3hrs including removal/replacement of the radiator hose and thermostat housing.
3.0 x 1.5= 4.5hrs
Warranty Camshaft Replacement time on a 2006 2UZ-FE 4Runner: 6.8hrs (this is warranty time for replacing 1 or more camshafts, the book doesn't differentiate or specify beyond "Camshaft Replacement" which is a bit annoying).
6.8hrs x 1.5= 10.2 rounded to the nearest .5 = 10hrs.
~
That's at least how we do it, so you should be able to look at the value your getting from the labor rate and parts list to give you an idea of who's quoting the job fairly.
