The TLC/LX 4wd system has a mechanical (gear-based) center diff that does 50/50 split all the time. It does not vary torque like the 4runner/GX Torsen system. It does "give" when you turn a corner.
The Torsen center diff system in 4th gen 4runners (gear-based also; T-3 design) is better than TLC/LX's system ONLY in handling at high speed where a rear bias of torque is preferred. Torsen is basically the same as TLC/LX system except it can vary torque from rear to front depending on driving conditions. The ONLY time where Torsen may help is in high-speed cornering where the rear bias torque distribution will help handling and steering feel. For example, that is why BMW X5 sends more torque to the rear wheels, instead of 50/50. Same goes for most AWD sports car. This is to promote gradual oversteer, rather than understeer, which is important in handling.
However, for a 5500+ lbs of steel that is high off the ground, i don't see much benefit in the rear bias Torsen system. Maybe with the 4th gen 4Runners, Toyota is envisioning a more sporty truck. It is also a great advertising proclamation: "4Runner is the first SUV in it's class to have the Torsen center differential."
The Torsen center diff does NOT help in off-roading. In off-roading, you would lock the center diff most of the time, which will then distribute torque 50/50. And once the center diff is locked, both systems are equivalent. Remember, VSC turns OFF when you lock the center diff, but not A-TRAC.
Want more info on T-3 Torsen center diff on 4runner/GX? See this link:
http://www.torsen.com/products/T-3.htm
The A-TRAC system is the equivalent of having Limited-Slip Differential on both front AND rear axles...pseudo-LSDs. It is not going to be as efficient as a locker system front and rear (aka. ARB, Detroit's) over severe terrain (rock climbing, deep mud). But, then again, with ATRAC, you don't have to worry about turning the lockers on and off while off-roading. Because of A-TRAC, there is no more need to offer the rear locker option (for TLC) or LSD (for LX).
ATRAC actually does NOT transfer torque side to side as explained by Toyota brochure...it PREVENTS one wheel from losing total power.
More info, just check out my forum:
http://www.toyota-4runner.org/showthread.php?s=&threadid=12&perpage=15&pagenumber=1
Hope this helps.