Ended up with getting the Revo V and it is safe to say, it is the much superior vehicle. Happy with my decision.
Fortuner is not only under-powered in comparison to the Revo but doesn't really offer any specifications or features that will persuade you into buying the Fortuner. Yes, it is indeed a 7 seater, however, I suppose that the storage option the Revo offers in its tail is much more preferable - at least for someone like me who loves dogs, plants, mountain biking and the great outdoors!
Fortuner is a decent off-road vehicle but the Hilux Revo is made for the outdoors. If someone has ever had the privilege of owning an 88 LC, they would know that on the back tire cover it says something like, "Born on the rally field..". Well, for the Revo, it is safe to say that it was born in the great Outdoors! If Fortuner is a good off-roader, the Revo takes off-roading to another dimension all together. Fast, rugged, smooth, comfortable and precisely put, the absolute definition of useful!
With the features and specs being identical (almost!), I believe Revo wins this battle, especially if you consider the fact that there is a massive difference between the price points of the two vehicles.
It should not go unnoticed that the Revo offers hundreds of after-market options and specs/features. Ranging from Bull bars, tool balls, canopies, altered suspensions, tires, roof-racks, antenna's, snorklets to features like an after-market Push-Start option and what not. The Fortuner also has a few after-market options but trust me when I say this, the Revo has close to unlimited additions you can bring to it.
The only area where the Fortuner may trump the Revo is the fact that it is a 7 seater. However, even that doesn't make it a superior, or even a distinctive feature in my opinion because you can easily get a canopy for less than 200,000 for the Revo and get it installed and turn your mean off-roader truck into a 7 seater.
Went for the Revo and am absolutely glad I chose it over the Fortuner. No offense to Fortuner owners, it is an amazing car, but the Hilux is a bloody machine!