Been waiting for someone to come in and say just that very thing. Sweet action
Buy the supercharger if you want to supercharge. It's a great deal and they're getting hard to find.
However, I don't fully agree that an aging motor is vulnerable to being exploderated by boost... if you're the cautious type: a leakdown test should tell you alot about the condition of your rings and valves. If you pass a leakdown test with flying colours, boost away. If your rings are bad, boost will probably fix them for you by blowing chunks of said rings into the oil, and likely some piston pieces for good measure.
I fully disagree to just slapping it on the truck and lettin' 'er rip.
I read an article a long, long time ago about which 5VZ years that were good at taking boost and years that weren't. Unfortunately, I don't recall if the '98 SR5 was yay or nay.
Honestly, don't just run it alone without supporting mods. If your 'local' is Bowling Green, it's barely 500ft above sea level. If you were going to have predetonation issues, the closer you are to sea level, the more likely you are to have said issues. In days gone by, my Supra would make 14psi on the factory setup going through mountain passes or even at home in Calgary, but I get to sea level and I can't boost past 8psi... why? Too much air, too easy; trips the fuel cut in the ECU and the whole system panics and shuts down. 8 PSI down at sea level is 280hp, but it takes 14psi to make the same power at 3000ft or higher.
There's alot of factors that play into that, and those numbers are real rough so don't hold me to them... but my point is you're real close to sea level. A turbo charger is moderated by a pressure spring on the wastegate, meaning you can get control over the boost by fiddling with the wastegate pressure... that's how I drove at sea level without problems, push a button, and I'm ramping up boost through the mountains. A supercharger regulates boost with pulley size. Smaller pulleys spin the lobes faster, making more boost. Pretty simple physics here. But the point is that as air pressure increases obviously air density does as well... hence that 5VZ-FE's that are at high elevations don't have pinging problems as prevalent as those at low elevations, because there's simply less air going in, and thus the amount of fuel needed to match is within the capabilities of the factory ECU.
The 5VZ is most vulnerable to high load, low RPM ping. You get that sucker wound out at WOT, you're not likely to have ping. It's those highway hills that will kill.
Anyway, point and case here is that do the right things and the motor will last. Throw on a supercharger without proper preparation and it's likely you'll find lots of parts in the oil eventually. Pre-detonation does not discriminate to cost, age, or make/model. It kills all engines equally.
Also, the transmission will strip teeth off gears because it spends too much time on the clutches. You will need to remedy this with valve body modifications. There's lots of info out there. A transmission cooler isn't a bad idea as well.
Frankly, if a guy's gonna intentionally blow up a motor, just save the $1200 and drop a screw down the spark plug hole. Power adders without supporting mods is like building a house without a foundation: it's a pretty house, but the smallest gust of wind will flop it over. Proper Preparation Prevents Piss Poor Performance... or something like that.