I agree that the best layout of the trigger wheel for a VR sensor should have ramped teeth, however Toyota didn't seem to worry about it enough so that's why I am not worrying either.
The left hand gear is the factory Toyota part, the right hand one is the laser cut gear I added to the 7m timing gear. The square tooth is the same size as the magnet in the end of the sensor as far as I can tell.
This shows my prototype cover with the 1G-FE VR pick up mounted, it is extremely tight to the harmonic balancer and would be the absolute largest sensor possible at 18mm diameter, even this doesn't quite line up with the toothed wheel but seems to still pick up the teeth.
I didn't go with a Hall sensors as they don't like small teeth at high tooth counts, which is why I assume Toyota didn't use a hall sensor. I will probably use a hall for the cam pick up. I went through a huge number of data sheets for aftermarket sensors but most do not like the tooth width we are talking about ~3mm and almost all wanted a 10mm spacing between teeth. I spoke with the maker of my ECU and they specifically said not to use the GT101 Honeywell sensor that seems to be popular, and said to stay with an automotive sensor as they work better in car electrical systems compared with industrial pickups that normally sit on stationary items with out ignition systems right next to them.
Anyway im sure they is more than one way to this, and I am keen to find a sensor Hall or VR that is proven to work well and is smaller than sensor I am planning on using so that I can mount it closer to the balancer and make it line up with to toothed wheel better.
Back to the original question of this whole thread,
By my reading 53.6mm is the OD of the timing gear where the timing belt guide has been pressed on. My toothed wheel needed a few taps with a hammer and it sit solid but each cutting shop will cut slightly differently. I should add that my toothed wheel interferes with the inside of the front timing cover which needed a good dremel to make it fit well.