I'd say do the lux up...

but I'm a bit of a lux man... I don't know about your costs they seem a bit heavy at $5000 for a supra conversion
this is what I'd expect to pay
A whole early 2.8L supra/celeca $600
You get motor, wirering, bellhousing, clutch fuel pump, power steer pump etc
Or
A 2.8 Cressida for $200 or less

nobody wants these old things
You get just the motor, loom and power steering pump
A supra bellhousing $400
or
Use the Cressida auto bellhousing and an adapter (talk to Mike "SupraSurf")
You'll also need a 3Y flywheel and clutch $50
This will bolt into your engine mounts so nothing new there
Since you want to run 33"s I'd recomemd going to 4.88 ratio diffs $300 for a set
with the bigger tires you'll want a bit of a lift
Either
Do a rear up front spring swop and X over steering

springs will cost you $50 another, surf steering box $100, a set of high steer arms (SNR "Jafa" $550) ask for hilux rod end tapers

means you can run your current tierod, $40 for an extra tierod to use as a draglink, $100 to get them both shortened and threaded $60 for draglink end that fits the surf power steering box, $20 for a 2WD hilux driveshaft $100 to shorten and respline... if you want it to flex in the back a set of XD falcon springs $80 and get them redrilled $80, new U bolts pretty certain mazda truck ones fit (I make my own) then new shackles... make your own
or
Body lift and leave the suspension alone... $200-$250 for the body lift kit and $120 for a shortened and resplined 2WD steering shaft
that leaves ya with a power of money from your $5000 to spend on tires

Oh and some other fruity bits like dual adapter, longs etc
Now that does assume you can weld or get it done
Go the lux
Cheers Reece