We needed an SUV for our 3 greyhounds and something to tow our 7500 lb travel trailer - a minivan or a "crossover" were out of the question, so after considering loads of other candidates (Suburban, Durango, Expedition EL) it came down to the Sequoia. With the high gas prices, you can really swing a sweet deal on an SUV, even one of these. Sure a minivan beats it in outright interior space and gets better MPG, but there's no substitute for true V8 power, torque and brawn when you really need it. Very smooth and quiet with more than enough power to handle just about any situation. Right now these seem pretty exclusive - you won't see yourself coming and going like you would in a Suburban.
The 5.7 iForce V8 is a true gem. Toyota really outdid themselves on this one and it totally smokes the competition. Test reports say it'll do 0-60 in the 6s and 1/4 in the high 14s - not too shabby for a 3-ton SUV, and I believe it. This thing flat out hauls. MPG isn't bad, all things considered.
Parts of the dash and door panels are a bit on the cheap side - wouldn't expect these demerits on a Toyota. Can get awfully expensive quickly when you start adding options - the DVD option, for example, is about $1700 where it's only about $1200 on a GM or Ford SUV.