I bought this 95 4Runner 3.0 w/auto this past weekend and it's idling at 500rpm. I think that's way to low for this engine. Can anybody help me with where the idle adjustment is on it and where it should idle at?

 

There should be a flat head screw somewhere near the throttle body to adjust the idle. I can't say for sure where because I own 22re's. It should be set at or around 750-800 rpm

 

You shouldn't mess with the idle screw on fuel injected engines, it messes up what the computer is reading and causes all sorts of driveability issues. I don't know if these use an idle air controller but if so, you ought to be able to remove it and clean it and the place it goes in the throttle body with carb cleaner and make it idle smooth. A slow idle could be a plugged air filter or PCV valve. The idle air control valve acts like a controlled vacuum leak that makes the engine idle properly. It should have probably two wires run to it, one hot as the computer switches it on and the other ground.