Funny you should ask.
There has been some talk about this engine and its one I'd like to get my hands on.
The stock Toyota distributors should be discounted straight away, we've spent many hours with the 4A-GE distributors, and while I've had success on the test bench with the newer type (off the 20V 4A-GE and 3S-GTE) theres been others that have tried them in a car and found noise problems.
So that would take us to using either the sensor from the later car, or a crank trigger - which would give the best accuracy with triggering, and mean that coil packs are used.