It should work fine. Scott @ Rockstomper ran basically the same thing on his truck for years. I considered doing the same thing too before I SAS'ed.

http://toyota.off-road.com/toyota/article/articleDetail.jsp?id=305949

I wouldn't recommend using the long travel kit as an extra lift kit though (or at least not much). Use the lift for ground clearance and tire clearance, and the long arm kit for the long travel. That's basically what Scott did too. Notice in the pics that his control arms are still relatively flat.

[Linked Image]
[Linked Image]

'97 4Runner, '06 F350, '86 4Runner, '05 WR450
http://home.4x4wire.com/erik