I have never owned a LC, but from everything Ive read I think I would prefer the LC over my 4runner. The advantages in my book . . .
-Solid front axle. Eliminates the issues with the faulty steering rack in 3rd gens. Tougher. And of course provides more capability.
-Factory dual lockers.
-More interior space. I like sleeping in the back of my 4runner when I go camping. Haul a bunch of stuff on weekend trips. But even being a short guy its too cramped. The LC would be perfect for camping trips/excursions.
-I like the leather interior in LCs.
-More power, and can be supercharged just like the 3rd gen for even more.
-Again Ive never owned or even ridden in one, but Ive read they have surprisingly good road manners.
-Like others said, the rareness and uniqueness of the LC. Every now and then I see one driving down the road and its gets me all excited