I'm doing the same investigation right now. To let you know, I didn't find any American Toyota dealer who will sell me a new 4R. The best offer I got was after 4 months ownership/title in the states, then I could buy. Importers can get around this for you.
After the American cost, local taxes and fees, exchange rates, duty cost (6.1%), inspection fees and a few other minor things, it looks like right now (at a .97 Can. $) things will come out about even. For me, I would really like the JBL stereo in a Trail, but that's not available up here, and it is in the states. I'll be importing likely in the spring. One thing to note though, and it's the biggest factor; a 1 cent change in the dollar ends up being a difference of about $550 at an American cost of $45K.
Just for your info, here are the approximate costs I'm aware of right now (I did aim a little on the high side);
-purchase price i.e. $41,000 (@.97 = $42,268 Can)
-local taxes and fees $2000-3000 (Amer.)
-shipping $500-$1000 (Amer.)
-R.I.V. fee $200
-6.1% duty for non-North American built vehicle (after exchange rate) $3000
-GST $2500
-Canadian and Provincial inspections $400
There are also a few hoops you have to jump through before the process is complete.
I'm looking at using an importer just to steamline the process and make my life easier, and he's got his fee too. I've heard the costs for this can vary from $500 to $2000.
If the 4R was built in North America, it would be totally worth it to import. But like I said, as of right now, it's pretty much a wash either way.