I am in the full time camp. If you want to know how it feels PT lock your CD and remove the front propshaft, 8 bolts and ten minutes. Around town I doubt you will notice any difference I didn't, start pushing around out of town on bends and you will then notice the truck front runs wide, you cannot overturn the laws of physics.
Saving wear on the front end........possibly but, given the axle is expected to be overhauled say every 10 years, I am not seeing much to be gained going PT. My 94 has the original diff, no nasty noises now approaching 270,000 miles. One of my Birfs is also an original, as I use mine pretty hard on and off road I will be changing knuckes and Birfs, as PM, last axle work 7 years ago.
Fuel saving again possible but how much I cannot say, I drove mine PT for a few days, certainly not long enough to give an honest answer, I do remember how good it was to get full time drive back under me.
Something else, my recent trip through very changeable conditions, being able to simply press the CDL button was enough to get the 80 through most obstacles, having to get out and manually lock your hubs is not for me, especially when it is muddy or pissing down with rain.
If you paid out for the PT kit you need to justify it, even if you found out the disadvantages too late.
Regards
Dave