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word is the 1fz (4.5L) on 93 and up are engineered to go 300k then rebuild repeating this process 3 times. I have a little over 260K on mine and still running good. only use about a qt of oil between oil changes (sometimes there is a little puff of smoke when i start it i figure the valve seals leaking just a little) the 1fz has about 50 more horses then the 3fz but just as reliable in my mind.
 

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The 1fz was built during a transition period for gasket mfg. As such, the old gasket likes to fail at the #6 fire ring. Most failures are 10+ years and 150k+ miles into the life of the vehicle. Toyota has had a reworked gasket on the market for quite awhile--it does not fail. I have had 3 80s--never been stranded or had a breakdown.

A good friend has ~360k on his original 1fz--he had it tested at the dealership at 295k and it tested to within 5% of factory specs.
 
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