I haven't seen any sign of a mileage improvement, but I think there are other issues at play there (old cats, short trips, nasty wheel bearings, dragging brakes).
Cons:
* Gotta get out to engage the front hubs.
* Wheel spin when you're trying to pull out into rush hour traffic on wet roads.
* You lose ABS with the front hubs unlocked, unless you also install a tone ring relocation kit.
I wouldn't suggest it unless you have very specific reasons. For example, drive line vibes at high speed, aftermarket Birfields that shouldn't be run full-time time, or a desire to do burnouts.