As the age old question goes... WHAT KIND OF OIL DO I NEED!?!?

I couldn't find much about this car on here so I figured I'd ask.

Tomorrow I'm picking up a 1997 Toyota Camry 2.2L automatic with 185k miles for $1,700, going and seeing it today I noticed the oil filter was a little loose, I'm pretty sure that was the leak so I'm not worried at all. I know nothing about its previous history, I think just quick lube shops.

My question is what oil to use on it? I'll put about 12k per year on it I'm guessing and will always be up to temperature, not really short tripped. I have tons and tons of Valvoline NextGen Maxlife 10w40 I'd like to use on it but won't be heart broken if not.

The guy I'm buying it from says he bought it 3 years ago at around 100k and he drives to Colorado all the time which is what has made up the miles. I'm having a timing belt put on it too. Anything else I should watch out for?

Also what kind of filter? I always use Wix on my truck so Wix or a Toyota filter?

This is the craigslist ad: http://phoenix.craigslist.org/wvl/cto/4203857115.html
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1997 Toyota Camry 2.2L 5SFE 192k - PU 5w30