Thanks for the responses and please keep making suggestions. I do have manual hubs, so lean towards the option of keeping the hubs unlocked and t/c in 2wd. I am still considering a trailer but the added weight (even if it's alum.) either puts me close to or over the GVWR for the Navion and also limits access to places we want to go so prefer no trailer. Hooking/unhooking rear driveshaft might be a hassle but is still doable. At least with the front driveshaft still connected I could move the 4Runner around after getting to camp.
You'll have to remove the rear driveshaft completely to move the vehicle with front wheel drive, not just disconnect it from the rear diff. As soon as you apply power to the tcase, the rear drive shaft will start turning, not a good thing if one end of it is loose.
That being said, there's nothing wrong with completely removing the rear drive shaft, and using the vehicle as a runabout with front wheel drive only. You could drive thousands of miles in front wheel drive only with no ill effects. You'd only have to re-install the rear drive shaft if you expect to go offroad somewhere where you definitely need full-blown 4wd.
One could do the same thing with a later model vehicle with ADD in the front. With the tcase in 2wd, the ADD will disconnect the front diff, and the CV axles will spin harmlessly while the rest of the power train (front drive shaft, tcase, and transmission) remains motionless.