Ok, thats an IFS truck, which as mentioned would be a lot more work. IFS suspension has pretty limited travel so to lift it you need to lower the whole subframe assembly and diff - more work than its worth in my humble opinion.
The bodylift is hard to tell from that photo - but I'd do a 50mm one and leave it at that.
Those fibreglass flares aren't cheap - try to find a truck that already has some on it - or there was a guy selling aftermarket ones on trade me - but they were around $300 per pair I think! ouch.
The tyres look like 35 x 14 x 15" rims - I'd think the best bet for you would be some 37 x 12.5 Goodyear MT-Rs - they're a good on and offroad mix, probably one of the better onroad bigger tyres available that still looks like it would (and in fact, does) perform well in the rough. Failing that some 35 x 12.5 BFG all terrains are a good tyre that will give you close to 100,000km of road use (if ya dont huss em up wit da bling Lexus V8

)
I would still repower it as well... even with lower ratio diffs (not higher... who said higher?!) you're going to have problems turning the big rubber (get them rebuilt with good quality 5.29 ratio ring and pinions) . No point with crawler gears in your transfer case, you're not going off road anyway. You want this thing to go well on the road. Just be aware that the gearboxes in Hiluxes are one of the two main weak points they have. The other one is the CV joints inside the front axle. If you 4-wheel with big tyres you'll probably break CV's. If you never intend to use 4WD, then don't sweat it... But a good gearbox to use is the R-series box from a later model Surf - they are a bit stronger.
Engine - 1UZ or 3.8V6 from a Commy... don't mess round, both these engines should have the bling value required - Lexus V8 probably the better of the 2 - although put 6 grand in your pocket before you start.
I can have custom leaf spring packs made up for you, or you should be able to get them made wherever you are. 4" lift is probably heaps, and maybe 1" blocks, or preferably new axle seats with the lift built into them.
All that will give:
4" Springs
1" blocks/seats
2" body
3.5" tyres (using 37's, they had 30's standard)
-----
10 1/2" higher than a factory 'lux
That enough for you?
Oh, still go with long travel shocks - they look better. Rancho 99000 with in-cab adjustable stiffness will be the best IMHO. You can get filthy long shocks (13" of travel - you'll probably never use it but they look the part).
Talk to a metal polisher about the axles - should be able to get them lookin pretty whizzy with a bit of work, although they are mostly pretty messy from the factoy with weld splatter etc. Maybe the housings can be chromed?
Anyway hope that helps... now I feel dirty... I need a shower... lmao
Oh, and once this is all done... it should even work pretty well offroad. The only thing I would look at is sway bars - at least in the rear anyway. Have them custom made to suit, or use a front one from an IFS surf on custom mounts in the front. They'll trash your ability to flex it up, but will add vast amounts of street stability.