Timing Belt Or Chain

Depends on the application and what make/model car is it.

Personally, I like belts. Why? Belts tend to run quieter, more efficiently, with the materials they have now - they can last well over 150K miles and do not stretch out like chains. Chains historically have longer life spans, as they are constantly bathed in oil - but also tend to be noisier, be harder on the lubricating oil, do wear out over time.

In the case of the 1ZZ-FE engine - being an interference engine - when the chain happens to let go, engine damage will occur. On the older A-series and S-series engines with a belt - if the belt breaks, non-interference engine design will just stop in its tracks. Replace the belt and you are good to go. Newer Volkswagons and Hondas are going back to belts - materials have progressed to a new level - now belts can be run dry or immersed in oil. They are projecting over 150K mile service intervals with the new belts.

Granted chains do have a longer service life and the big problem with belts is that they fail without any external warning, reason why you have to replace them at regular intervals. In the end - all boils down to maintenance.