TeXLive 2008 is the most complete, best updated version of LaTeX at present in the 'nix world. I haven't tried to get it working in TC, but I'm eager to see the results (and will try it when I have time, but I wouldn't wait for me, since it could be several weeks). TeXLive supports two installation methods: 'install everything to hard drive,' or 'run from DVD (image).' (with some minimal system setup I think) The second method is much like our .tcz's.
See basic instructions here:
http://tug.org/texlive/doc/texlive-en/texlive-en.html#x1-50001.3Like I said I havent' tried it, but TeXLive seems pretty complete, so it may not struggle too much with TC's more limited set of system tools. If it does, make sure you try loading the GNU coreutils, findutils, grep, texinfo, and perhaps bash.
There is a TeXLive 2009 in pretest (for just over a month), but no whisper on when it'll be released. They sometimes tend to release quite close to the end of the year they're aiming for, so I'd probably stick with TL 2008 at the moment.
Let us know how you get on, if you give it a try.