I'm no expert here but I think we're over complicating this...
The 4wd system in 98-99 100s is pretty simple. Under normal conditions, power is sent to both the front wheels and rear wheels. Don't think there's any percentage "split," it just acts like an open diff. If one wheel looses traction then the other three won't turn. Similar to how a 2WD car won't move when one drive wheel looses traction.
The CDL button is for when you're off road or on snow/rain/ice. This will lock the center diff so the front drive shaft spins at the same speed as the rear. You don't want to leave this engaged on dry pavement as it will cause binding in the drivetrain. Most "part time" 4WD trucks ONLY have a locking center diff, so the manuals will say to only engage it on slipper ground.
With the CDL engaged, one front wheel AND one rear wheel would have to loose traction before you stop moving. It is automatically engaged in 4Lo because lets face it, if you're wheeling you want it engaged.
Locking the Rear just takes the above scenario one step further. Now the two rear wheels (and one of the front wheels) will all spin at the same speed. So three wheels will have to loose traction before you stop spinning.
Transfer case has to be in 4Lo to engage the rear locker and you will also loose ABS.
That's all there is to it!
Like others have said, I would be surprised if your friends' Jeeps with Minimal mods had a locker on the front or rear. Ergo you should have the more capable rig.