The lock-right/Aussie will work, and I think that you can get the Aussie right now for around 200.00
The selectable lockers are very nice. I have sold and installed over 50 ARB's, and have them in my 40. But I also have the lockright in a 40, and while it does have driving manners that are not the best on slippery roads, this is something that can be mostly controled with the right foot, and being aware that the truck will operate and handle differently.
You will not be disapointed with the Aussie/lockright system, and it is a locker, not a limited slip. As stated earlier, LSD's are alright, if you are not looking at having a tire loose contact with the ground, but I have been able to drive around others with LSD's that got stuck in similar situations, with simialr set ups, minus the LSD.