Adam,
I just sold my 2002 Sequoia with the same engine. It had 190k on it. I never changed the timing belt or the water pump. I was getting ready to do them both when i decided to get the GX. I do not know of any timing belt failures. Timing belts are very strong. They have a breaking strength that surpasses most materials.
I do not beileve the timing belt, water pump and pullys are a big job. All the research I have done has resulted in basic mechanic labor.
I can say this. I think I miss my sequoia. Granted it was not full time 4wd but it was a larger vehicle and was flawless with the exception of the rear door lever and a bunch of o2 sensors here and there.
CHip
