I have direct experience with driving with true 35" s on stock gearing and 5.29's. I disagree that the power loss is not substantial. Once I regeared, it felt like a whole new truck. I made the drive to LA on stock gears, picked up a cbi rear bumper for [MENTION=53337]SCRunner12[/MENTION] and came back and did 17mpg. Going up the grapevine was like pulling teeth. I was stuck in the right lane (not the truck only lane) watching as beat up little corollas and whatnot pass me up.
Then, I made the drive again with 5.29s and all of a sudden I was passing everyone up with no gear shifting. Just stayed in one gear, cruises up. I made 19mpg that trip. My 4runner shifts much less. My transmission fluid temperature is, on average, 7-8 degrees cooler on the same hills I take getting to and from work.
The only downside to regearing so tall is increased rpm at freeway speeds. However, it puts me much closer to the peak of a 5vz-fe powerband. I slightly increase pressure on my gas pedal and I accelerate so smooth and easy.
I did my own diff setup. Total cost for rear re-gear was 440$ and front was 400$. I did not use setup bearings, just used the old ones and used the new bearings for final assembly. Price includes gear oil twice over for the break in period.
In my educated opinion, you are missing out.