I tackled this very question with lexus today Steve, having previously been told that the sensors and warning lamps could be either coded out or disconnected for use with standard valves. That, it would appear, is entirely dependant upon model. You'd be forgiven for thinking, for example, that the very same system was used between LS/GS cars and SC cars. Not so. Had my car been an SC model from the same year (2007), then the sensor could simply be disconnected and standard valves used (or at least that is what I was told). However, this does not work on the GS. I know because I had my sensor disconnected this morning and the warning lamps still light. Apparently, it was seen as a back-up safety thing, so cannot be coded out using VCDS (or whatever it is they use at Lexus). I'm none too happy that a manufacturer would foist such ludicrous systems on its customers because it removes choice and costs more. It ought to have been an optional extra, coded in or coded out as required, meaning anyone could use standard valves. It's a complete nonsense that it wasn't done this way.
I wouldn't have minded but have just had to foot a £756 bill for a new exhaust system (then pay locally to have it fitted), replace some shocks and brake pads, the engine's been out for some hydraulic tappet replacements at 64,000 miles last year (I'm told this is a "one-off" and they've had GS cars in with 250K on the original ones), plus have had to powder coat the wheels which caused the TMPS issue in the first place as corrosion meant they valves were seized solid and had to be sheared off and drilled out before the wheels could be powder coated. I like Lexus cars (at least some models), especially pre 2009/10 versions, but have to question the cost of ownership longer terms if any more "issues" crop up.