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Yes, they both use the 2jz-ge engine. There were a few differences. The IS range always had the VVT-i version, the supra only got it in the last year as I remember. What's it good for? I recall the stock rating was 220 or so, and the VVT version may be a little higher, or just a wider power band. What are they capable of...not a whole lot more with the basic bolt ons than any other engine. Like any naturally aspirated engine, you can probably expect to find 10-15 percent on the top end, with a loss of the low end. Spray is a whole different game, as is forced induction. Both can take it one heck of a long way. That said, it's not the GTE block and head in there so the sky is not the limit with these, and without the right tune, it's meat no matter how you cut it.
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