Here's a quick comparison between the 150 series Toyota Land Cruiser LC5 Prado and the Mercedes M-Class (W164). 

The newest Prado is now positioned closer to the prestige manufacturers in terms of quality and refinement and so forth and in all honestly some would consider a base model Mercedes to the top range Prado.

See the specification comparison below!

Mercedes Benz M-Class 
VS
150 Toyota LandCruiser Prado

Although the two are aimed at different parts of the market I thought it would be an interesting comparison. Note that the BMW is releasing an updated X5 in later in 2010/2011. 

Once again the M-Class is not in the same league as the Land Cruiser in terms of 4WD capability or even the same size but nonetheless pricing means that I've included here.

The Mercedes M-Class has all the latest traction control systems that can supposedly overcome a variety of off-road obstacles, mud, sand, gravel and so forth. The M-Class is a competitor for the BMW X5, Volkswagen Toureg, and Land Rover Discovery4. They are all supposedly design for on road car like handling but with off-road ability. In all honestly none of them we tried could challenge a sporty-ish sedan like a Subaru Liberty for on-road handling.

As far as engines go there are a number of options including an AMG version the ML63. This version of the M-Class boasts 375Kw and a 0-100 time of 5 seconds!  Of course the price accordingly high.

The interior was typical of the current range of Mercedes thus high quality materials. The M-Class does have better quality interior and certainly feels more solid to sit drive. The only thing we can criticize is the cheap feeling dials on the center console otherwise very nice integrated but dark interior. We also think the M-Class gives a better feeling of luxury than the BMW X5.
 

150 Series Toyota Prado
2010 $58,490 - 88,990 AUD

Mercedes Benz M-Class
2010 $83,500 - 171,500 AUD