I am in a similar boat right now, where my exhaust gave up the ghost and I needed to fix it.... and boy did I make a mistake, so let me give you my story (and also my past experiences with DRONEmaster.....er....flowmaster, as well!)
Before we go into the 4Runner, my past 2 vehicles with custom, catback exhausts were: 1999 Jeep XJ 4.0 inline 6, and a 1997 GMC Safari 4.3
BOTH had a welded, baffle type muffler, and 2.5 (or 2.75) mandrel bent piping after the muffler to the tail end.
BOTH had incredibly horrible drone.
GMC Safari had a flowmaster Super 50 - honestly, sucked. (sounded nice at idle and accelerating hard) but droned badly.
Jeep had a Thrush welded muffler which was a copy of the Super 44. Same story as GMC.
SO NOW.... let's get to the 4Runner. I recently got a killer deal locally on an MBRP complete catback, barely used (this should give you an idea as to where this is going). Guy had installed it, and then took it off. I figured "how bad could it be". It is a similar idea, of a can with baffles (no packing material)
IT SUCKS. DROOONNNNEEEE
So my plan now is to take off the MBRP muffler, keep the piping, and surgically stitch in a Borla Pro XS 19" muffler, which I know is quiet, and what I want. (Apparently the Thrush hush does the same job, but I know the borla is a straight through design with packing material, to keep it quiet).
Basically the take away here is, if you want DRONE and LOUD, go with a flowmaster or MBRP or whatever welded baffle type muffler.
If you want quiet with better performance, get the Borla XS series
I would say my experience with those types of mufflers is bad, and they weren't a good choice for a daily.
They would be fun on a bushy buggy/offroad only rig, or something you want to be loud and have a noticeable engine note