I bought my Yota in '95 (second owner). Went through two 22R's (not the motors fault). It was $2250 to rebuild the 22R again. I put a 305 and 350turbo in for $1600 in 1998. After 100k HARD miles I started floating valves and parked it...almost 10 years ago. I will be posting progress as I complete body work, paint, and drop in an LM7 (5.3L Chevy). I'll be reading your stories, too, so keep them updated.
4L60E or 700R4. I haven't checked the length of the 4L60 to the 700 and the driveshaft was already modified for the 700 during the original swap in '98. Really I'll probably go with whatever trans comes with the engine.