I just bought a 96 SR5 with 255,000 miles on it. Mechanically it seems fine. I changed the oil yesterday. Took entirely too long fighting with the skid plates. But anyway, it didn't look brand new just a few deposits.
I put platinum in it this oil change. I keep looking at the sticker under the hood and see valve clearance specs. Like they get adjusted. Wouldn't have expected that from toyota. But then again motorcycles need adjusting and I think they are shim under bucket.
Need to search this forum on valve info I guess.
They can be checked and adjusted. Most find them fairly decent. If I take the covers off I would be checking them, but without a means of adjusting them it means I have to take it apart... again.
I've ran Mobil 1, Castrol Edge, and I will be putting in Pennzoil Platinum tomorrow. Edge is the cheapest oil I trust. My next oil change (in 8000km) will be full synthetic Edge OW-30). I have a XR650R that I ride on the road which is a torture test for oil and I swear Mobil 1 is worse than Castrol Edge. Where a motor shares the same oil with it's gear box, you can tell when the oil has seen it's shear limit. Clutch action and gear shifts change. Plus it uses little oil and often under high load and low speeds.
The vehicle has been pretty much sound since I bought it. I'm suspecting more of a bad PCV valve more than anything. I will be getting one on my next order but I like my things mechanically sound and seeing some deposits under the cap kills me. Problem is do you fix something that's not broken, or try to improve it slowly with proper oil changes and valve replacement, or go more extreme with a flush. I know these have all been discussed before here to great lengths with lots of opinions (and sadly VERY little facts).
Engine runs smooth, fairly quiet (quiet for being 15 years old, especially compared to domestic), gets decent mileage (was around 18-20 before lift and wheels, now around 17-18 during the summer), and decent power (for as much as 3.4's can be considered)
My vehicle is used for commuting to work (13kms) and usually 200-400 kms on the weekend which is highway/back country roads most times with a hitch carrier and dirt bike, or trailer with one or two bikes. Prior to me getting it I think it might have been used as a light commuter which doesn't help the oil. Pedals don't show massive wear so that doesn't reflect commuter but lack of rock chips likely means not a ton of highways, at least in our winter craptastic conditions.
This thread was to be more of a compilation of what people have and whats most common. I know some have sparkling conditions which I'm jealous, but I know probably many of us don't. Just trying to determine how bad mine is.