Hope its Ok if I chime in since I went from a 2003 Sport Edition to my 2011 Trail.
Can say after having the Trail now for about 2 1/2 months and just using it to go hunting in Wyoming and doing 2500 miles in 6 days that there is lots to like, and some things not so much.
Ride is better, off-road i'd say performance is even better than my last one, I've only changed tires to Duratracs but otherwise I'm stock rig.
You will notice the new one is way bigger & taller, its a bit slower than my 03' was, it need more room to turn, but its a great rig overall.
My only real complaint about the new 4Runners is how cheap some of the parts look/feel, especially some of the interior stuff. But, its a nice rig, no regrets for me anyway going with the 5th Gen.