The 1.8 1ZZ-FE certainly is an interference engine. Exhaust valves, and maybe also inlet valves can collide with pistons if the valvetrain stops following the crankshaft's revolutions in proper sequence if timing chain/gears/tensioner fails (unlikely), or if over-revved enough to cause valve float by accidently downshifting in a gear that is too low for the speed, as I've seen happen.
1ZZ-FE can go beyond 300K on original timing chain with good regular maintenance and oil changes... Toyota recommended oil change intervals did go down from 7500 miles to 5000 miles for 2004+ models. Oil capacity was inconscpicuously increased by 1/2 quart by raising dipstick mark by almost 1/2" on 2005+ models (TSB out only in 2008) when the pistons and rings were also revised to correct the oil burning and piston slap problem.
TSB-0134-08 July 15, 2008
DRAIN AND REFILL WITH OIL FILTER CHANGE: The capacity has increased 0.5 liters (0.5 U.S. qts., 0.4 lmp. qts.) to 4.2 liters (4.4 U.S. qts., 3.7 Imp. qts.)
The 1ZZ-FE engine oil capacity and oil level gauge assembly (dipstick) has been updated... Previous part number: 15301-22030. Current part number: 15301-22050
http://www.toyotapart.com/1ZZ-FE_ENG...SB-0134-08.pdf