3rd generation models are a great used SUV. I took a friend shopping and the trouble we were having is re-sale value. You look at a 99 4Runner and a 2001 or 2002 (another brand of SUV) are selling for less. When you look at the used SUV price difference, the 3rd geneation seem a bit pricey.
I think the 4th generation has had some newly built growing pains, but I they are fine and are getting better.
If you look at the 3rd generation I feel the power is fine. 183 HP, which is less, but it weighs less. They have a bigger trunk, more clearance and more carrying capacity. But they are narrow, tight inside, hard to get into. And yes, they last forever. My 2001 has 50,000 miles and no trouble, I am beginning to wonder if things like brakes ever wear out as I haven't touched them.