Certainly a better base for a build up that the Taco or 4Runner or any other modern Toyota.
What are you defining as "modern"? What makes this a better vehicle than the current 4Runner (6 speed?) or Tacoma (boxed frame?). I would think that a TRD Tacoma, though it has a C-channel frame, will be lighter, have better visibility, and probably cost less.
Modern to me would be anything made at least after 1995, but probably more like 2000.
The problem with the first gen Tacos is the frame has been proven to be weak for any extreme wheeling. Anyone that SASes them or builts them up for regular off roading usally beef up the frame. Prior gen Taco and 4Runner also uses a debatably weaker IFS set up and more vulnerable rack and pinion system and the smaller 7.5" diff.
The current gen Taco uses a C-channel frame and rear suspension set up that basicly copies the Tundra, while adding the current 4Runner front suspension. It's strength is still debatable. It should mirror the Tundra which has been on the market for years, but you don't see that many Tundra in extreme wheeling situations. But load capacity is a good indication of frame strength and it's load capacity is not that great.
The current 2003 and later 4Runner is the best of the bunch in my opinion, because it is the only one designed and built entirely in Japan and with a fully boxed frame. Load capacity is very high, likely due to the boxed frame, which the oversea's 2005 1 ton Hilux will share. The 4Runner also has the stronger 8" diff and IFS and a stronger and better placed rack and pinion design that appears to be based off of the LC100.
The FJ "appears" to take the best of all worlds and mold them into a more capable rig. It uses the 6 speed and locker, which the 4Runner does not offer and combines that with the stronger 4Runner frame and suspension, then chops off a significant amount of length to make it all lighter and more nimble than the 4Runner would be. And then adds taller tires.
This will be the closest that we in America will be able to get to the new stronger 2005 and later 1 ton Hilux. We just won't get a bed with it.
I see that it will have the traction and stability gizmos. That sucks. But it will also have skidplates under everything. That's good.
Things like axle and T-case ratios have not been released, and they will make a difference in the final product.
The fact that it uses the strongest mid sized chassis in Toyota's line up and builds up on that is good news to me. And so is the fact that it's built in Japan and will be sold on the global market. I've read articles from New Zealand and South Africa anticipating it's release, so it will have to be capable in those markets as well.
But, there are a lot of unanswered questions. The jury is still out on this one. And one thing I definately agree on...it's damn ugly.