There are quite a few turbo'd 1ZZFE out there - a fair number are Corollas - the rest are the MR2/MRS. Celicas, and Matrixes.
Picking the right turbo is one big part of the equation - the other is fitting the exhaust manifold (remember that is close to the firewall) - might have to move the powersteering lines and heater core coolant lines for clearance. Log fuel rail would definitely clean up the look, will have to upgrade the injectors even with a mild boost - same goes for the fuel pump. Even though the OEM might support 6-8 PSI of boost, you definitely don't want to run the risk of running lean and burnign a valve or piston. Need to decide up front if you need to modify the fuel system from a returnless style to a return one.
Think about adding some extra oil capacity (remote filter, kicked out oil pan, etc. - OEM capacity of 3.9 quarts is going to be strained with the turbo + any oil feeds you are going to run to cool it with) - depending on your budget, you might also want to consider running a dry sump oil system (really ony worthwhile if you see a lot of track time). Might even consider beefing up the oil pump as well.
Definitely need to run a wideband, air/fuel management w/timing control a plus (remember that yours is VVT-i, not all AFCs understand that system), EGT monitoring a plus (helpful for inline tuning), heavy running will definitely benefit from a turbo timer as well. Dyno tuning is worth ever penny. Not only will you maximize the potential for power gains, you also minimize the potential for disaster with a bad fuel/air/ignition map.
As for getting 50K miles out of turb'd block - even with a proper tune, very unlikely to happen with OEM components. I've seen a few with almost 30K miles, but most have been built up to a degree internally. I'm mean some haven't even been able to get 50K-60K out of an OEM setup.
If you done others - then Toyota shouldn't be an issue - just need to get a AFC that understands the timing on the your system to help pull spark when needed.