I went from an 04 Tundra Double Cab to an 07 Tacoma Extended cab 2X4 and Love it.
The only drawback I see might be in a snow storm, but Im putting dedicated snows on in the winter. The main reason was because the Tundra was way too thirsty with the gas prices like they are.
I rarely have the whole family in the truck at a time and can still fit, but not as comfortable.
My driving style has changed, especially entering the highway but I LOVE this truck.
Smaller More room in garage, less reaching when going to the dump, less thirsty, Cheaper tires, easier to wash and wax, and way easier to park.
Less comfortable for family in back, No 4WD, less towing capacity, and not as smooth of a ride.
Payload only 300 # or so less, Family rarely rides in truck but can fit if needed, less people will ask me to tow their junk but I can still tow my smaller stuff, I never bought the Tundra for the smooth ride anyway, but the big realization is, after 10 years, if gas stays around $3.00/gal I will have $31,000.00 more money in my pocket, just because of the fuel savings.