imo go with the 16v, but look for cheaper parts.

eg,

look at WADE cams they make a variety of grinds for the 4age 16v, made in aus and wont cost an arm and a leg.

for cam gears look at fidenza, iv used these and they are fine, great tune ability prob cost less then the hks items (i dont know hks prices though)

Timing belt, get oem, cant go wrong with toyota parts, also side note, always buy toyota oil filters they cost a little more but its worth it

look at Performance Valve springs, they make a good spring for the 4age at a smaller price

and H/G look for TRD 0.8mm should be 1/4 the price of the hks gasket

thats just a little bit of info to get started, also the standard fuel pressure reg is fine so dont waste your money

and get some mild head work done, just remove any bumps and casting marks etc

get a good set of 4-2-1 extractors get the quad throttles on there and you should be looking at about the 160hp area which equals ~120kw so ~100rwkw which will be awesome fun to drive and sound fantastic

good luck,

James