If it was repaired well and was garaged it could be worth a decent amount of money, not much but maybe 6k if you found the right buyer and it happens to be turbo. Find a way to get around the back reg fees and you'll be in business.
Honestly, I've had lots of fun with my 57 trim. New turbo is in the future though due to excessive shaft play. Crossing fingers it won't hit the housing for a few more thousand miles.
First just know that these cars are 20 years old and they were not all maintained the same. Then realise that fuel cut its controlled by how much air the engine pulls in, not by how many psi it will peak. As far as slow spool, check for a pre turbo exhaust leak.
Didn't mean to come off like an ass hah. Mine has 249k on it and it doesn't grind but I do like to go from 2nd to reverse. It is not unheard of though for them to show signs of aging at 160kish without proper maintenance.
Is it normal? No I don't think toyota designed the trans to grind going into reverse. There are tons of threads about this. Get some mt90 and do a search or two. Try second then reverse when going for reverse. Its just showing signs of age and could do with a rebuild.
Mine had it too. Please for the love of god, if you ever need to fix a leak from the seals, don't use silicone. Mine won't seal properly now because I wasn't able to remove all the gunk out of the small creases.
I'm fairly sure you have rod knock sadly but here are the videos i have of my flywheel bolts being loose.
http://www.youtube.com/watch?v=XCSiaGflZdE
http://www.youtube.com/watch?v=yuW5zRHy7h8
I have a thread that I made a few months back that showed a video of clutch noise that could sould like rod knock to some people. Turns out the flywheel bolts backed out. A quick peak under the inspection cover for clutch runout will show you.
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