I'm putting a 1KZ-TE Turbo-Diesel in one currently... SAS'ing it as well with a bunch of other stuff and custom bar-work.
Frankly their "lack of love" is pretty silly as they're some of the last "real Hiluxes" we got and they can be had cheaper then any other Toyota 4wd thanks to the boat-anchor 3VZ but the swap potential is pretty wide open as long as you keep it within reason. While I LOVE the iconic looks and "cool factor" to my 1st Gen, the 2nd Gen interior is a LOT more "modern" (some pluses and some minus to that IMO), the 4-doors are gonna make sleeping in the back a LOT easier then in my 1st Gen and I'm looking forward to having a fairly comfy cockpit to cover some long miles with the diesel... IMO 2nd Gen's are great trucks to start a build off of.
For some ideas (besides the great ones already posted) have a look over on Yota-Tech, there's quite a few great builds from more "expo" types to SAS'd crawlers. yes the rear body can "get in the way" on some of the more extreme trails, but if an LC wagon can get there a 2nd Gen (esp. with a solid axle) can too. Petersens 4wd did a write-up over a few issues on a 2nd Gen and remember, aside from the different body and rear-suspension they;re the same as the 1st Gen 4Runenrs and earlier "pre-taco" IFS Pickups so don't be afraid to take some ideas from other trucks and apply them to your 4Runenr.
Cheers
Dave