Mich. are summer tires and will stick to the road better that Toyo in warm weather.
Toyo's are allseason that are a good all around tire.
Mich. will suck and be hard below 40 degrees and dangerous in the snow.
Toyo will do fine in cold weather and get you home in the snow but they are not snow tires, so it depends on where you live and what you like to do.
I have had them both and like the flexability of the Toyo's since I do get cought in light snow in Oct and May when I do not have my Nokian snows on yet!

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2005 X5 4.4
Sold but not forgoten