Not really.
- The Trail has better ground clearance and approach angles because some of the Limited's trim pieces hang down lower.
- The available KDSS is supposed to be a huge improvement on the Trail.
- 17" wheels vs. 20" are more functional, comfortable, and grippy
- But the biggest factor is the locking rear differential on the Trail. A-Trac is extremely useful, but to pull out of a major wheel-up flex or big mudhole you really can't beat a locking diff.
All that said, for the majority of people a Limited will handle all the off-roading you need to do.
You are right in that full-time AWD is great for slick roads in rain, snow, or ice. Where do you live in California?