I think that is a great idea.
Locker(s) would be great for good trails and decent mudding. I can go LOTS of places in my 4runner and I don't have lockers (yet)

: There are some steep hills and such that it really bogs on - but that is mostly because of the Auto Tranny - but for general trails and such - it works really well stock. Get a good bummper (ARB or TJM with a winch) for protection and recovery, some lights - CB and a GPS and I think you will be suprised where this thing will go with very few mods. I have buried the hood underwater and blasted thru the other side with only a studder - and I have spun the tires dragging me sideways thru the mud for 70+ yards trying to get out of a rutt and succeeded. I have towed a 3600lb boat (not recommended) to the lake and back several times - and it keeps on ticking.
I love my 4runner - I really do. It has 204K miles on it - and I think I can make it another 200K if i care for it really well. I have decided that if I really want to toy with something I will get a jeep or a toyota truck. They have LOTS of parts, and are really easy to work on - cheaply. My 4runner will be for long winding trails and daily driving. As it is one of the most reliable vehicles I have ever owned. I live in Tennessee, and my truck has been to upstate NY(twice), Montana(4 times), South Florida(twice a year since I purchased it new), Chicago(twice a year since purchased it new), Arkansas, Northern Indiana countless times (my parents live there), Boston, North Carolina, Ohio - - the list goes on. I feel a couple more trips to Montana in my future and the the U.P. of Michigan.
With the truck, you will get an engine that is much more "mod-able" and a vehicle that is MUCH more suited to going seriously off road(lighter, shorter, better HP per dollar). Plus there are SO many parts out there - especially if you ding it up quite a bit - or hose your engine.
By the way - the 4x4wire plug was not a slight to this group - it is just much more active.
Aaron