If the engine is out. I would strip it, have it chemically cleaned, put a set of rings and bearing, belts etc then install it. Looks like a great build. I drove Tree's car a while ago with the same engine. Great little package.

I found the receipt for the ceramic coating of the exhaust shields and bolts. It was actually just $65!
 
Re, things to do while engine is out. If you're not up for a rebuild at the level B24 is suggesting, I'd recommend you do a 100,00K service:
 
1. Replace the timing belt. This is the one I bought from Fensport in the UK
http://www.fensport.co.uk/Parts/Model_47/Category_8/72
2. New cam belt idler bearing and tensioner (I bought through Toyota Australia, 21 day delivery from Japan)
3. New water pump (also from Toyota Australia)
4. New spark plugs
5. Oil and oil filter
6. Air filter (I'm using K&N HighFlow replacement reusable Air Filter 33-2052 
http://www.ebay.com.au/itm/K-N-REPLACEMENT-AIR-FILTER-1991-1996-TOYOTA-CAMRY-2-2L-4CYL-EFI-KN-33-2052-/141165435111?pt=AU_Car_Parts_Accessories&hash=item20de1d98e7&_uhb=1
7. Fuel filter

Thanks guys, I'll probably go with the 100,000 km service. Supposedly the engine has only done 47,000 kms, but I'd prefer to err on the side of caution.

Maybe inspect the clutch for good measure and possibly replace coolant pipes

Maybe change the thermostat too while it's easy & potentially save yourself heartbreak in the future.
 
Changing coolant pipes not a bad idea either, Toyota OEM pipes aren't expensive.

What engine and transmission oil is recommended?

Engine oil would be fully synthetic, but specifically which brand & viscosity is really personal preference these days. Personally, I use 10/60 Castrol Edge (which is considered too thick for most). You'll find the majority use a 5/30 from any of the major brands (Royal Purple, Castrol Edge, Penrite, Motul, Mobil 1 etc etc).
 
As for transmission oil, thoroughly recommend a GL4 (not GL5!) 75/90. There aren't many options available unfortunately. I use Caltex Easy Shift (GL4 75/90). There are alternatives you can try if your synchros have become knotchy/crunchy & you want to prolong a rebuild (ATF Dextron III).

Does anyone use Nulon oils? What do people think of them?

Engine is out of the half cut, ready for a service and clean up :)
 
 

Looks like I'll need a new clutch.....