I'm pretty sure you will need a 2" lift. My hood closes to the intake manifold just like it did with the 3.0L in there....which is tight.

You can also go with a hood scoop too. I actually considered this....I'm not a big fan of cheesy mods to the body of a car (like hood scoops...if they aren't needed)...but I do like the look of the reverse scoops on the big Chevy's....where the scoop opening is facing the widshield. But, the 4Runner hood doesn't go al the way to the windshield...there's a valance panel in there...so I couldn't get that look anyways. Plus the lift has more benfits to it.