THE POWER STEERING IS WORKING : finally
The new mechanic has been able to get the power steering working on my rig. He replaced the pump with a more powerful one from a later Toyota and replaced the pressure pipe with an original one, but the result was still not perfect. So we changed the Power Steering gear box and VOLA! the power steering is behaving now as it should have in the first place. His diagnosis: water must have entered the old box and ruined it. I am happy as long my rigg is steering smooth and without effort.
THE BRAKES ARE RESPONSIVE : not hard anymore
The new mechanic also suggested changing the original brake servo with one that came on later models with disk brakes. The later one has double diaphrams. So we went ahead and replaced the servo as well. And now my brakes are responsive and do not require that you press them with all your life force in order to stop the vehicle. I am happy with the brakes now.
RADIATOR:
I didn't replace the original radiator as the previous mechanic said that with servicing it will be fine. Now he told me that the front lines are clogged. 
So I am looking for a 4 or 5 line radiator to replace the one that came with the vehicle. This would be the last big part replacement on my rig for now.
ROLL CAGE:
This is a tricky one. If I go for a cage designed to hold the soft top and look good, I lose on the strength/safety requirement. And if I go for safety I lose the cosmetic appeal of the car when the hood will be removed. So I am thinking..
LEAF SPRINGS:
This is next in line. The shackles and the pins need greasing and the leafs themselves need to be checked and adjusted to give the rig a proper balance. It leans a bit to the drivers side (very common for TLC FJ40) and is somewhat sloping to the rear. I might add a leaf to give a lil lift and weight carrying ability.
That said... it's fun driving and I am looking forward to when the running of 1000km will be complete so that I can properly flex the rig. 