Pretty sure the 4th gen qualifies as AWD due to the torque split front to rear and ability for more or less torque to be applied as conditions warrant. The torsen center diff is the same one used in Audi's quattro system, ours is just lockable.
The V8 is considered All-Time 4 Wheel Drive, the reason being simply that while we have a central differential much like many other AWD systems, we also have a Hi & Low range gearing in our transfer case along with the locking ability, they are more similar in function to a Selectable 4WD system than a true AWD system that only has one set of gearing.
I have been shopping for a 4th Gen for a few months now. Not in a hurry so taking my time till I find the right one.
I have ruled out the V8 mainly because I don't like the idea of full time AWD. Why did Toyota do that? Wouldn't gas mileage be much better if you could turn it off...like the the V6?
Any V8 owners agree that they would like the option to go RWD? Also, I have read a few posts saying the mpg isn't that much different...maybe so but just hard to fathom how that can be.
If you're shopping for a 4Runner based on gas mileage, just stop right now.
I'm not trying to be rude, but people seem to make this mistake far too much. While better gas mileage is ideal, most Body on Frame SUV's seem to get around 16~18mpg realistically on average. The V6 & V8 powertrains have little mpg difference due to weight more than anything else. If 20 miles per tank is that important to you, you're in the wrong market for a vehicle like this. Its like someone wanting to buy a heavy duty diesel 3500 truck for hauling construction equipment fretting that the competitor's has 1mpg more rather than the fact the models may have totally different hauling abilities.
The best thing you can do is look at the average MPG, settle for that and figure out if it is in your budget to afford the fuel ON TOP of the vehicle cost. I am not happy that my V8 guzzles gas (at $4.67 ish, its about $90 to fill 20ish gallons), but I knew full well I would have to budget for a possible $5 a gallon operating cost for the power, reliability, and over all satisfaction of having, (In my honest opinion) one the the best modern body on frame midsized SUV on the market.
As for why Toyota did not provide an option to shift the vehicle into 2WD? Honestly, I'm not sure. It could have been as simply as they thought tire wear, wasted power to the wheels, and over all performance just wasn't worth it. The all-time 4WD system on the V8's is far better than those horrible ones found in Jeeps, GMs, Honda, ect. The V8's system provides great performance, reliability, and comfort to the point that you really don't notice the difference between a 2WD system. Granted, if you're cornering the vehicle like a race car and wanting burnouts for fun, then you may not be happy with it, but in normal driving, off-road, and over all conditions the All-Time 4WD system is such a nice design, most V6 driver's leave their vehicles in 4Hi to get the same benefits.