4L on dry roads is OK, but unpleasant. The engine will be turning ~2.4 times the normal rpms for a given speed, and your top speed will be like 50 mph with the engine at the redline. The powertrain will be prone to jerking and bucking and automatic shifts will be VERY harsh. I don't offroad much, but I try to engage 4L for a couple of miles every month or two, just to keep the mechanism from freezing up. Otherwise, there's no reason to use 4L on the road.
As noted above, DON'T lock the center diff on dry pavement if you plan on making any turns at all, even shallow ones. Locking the center diff forces the front and rear axles to run at the same speeds. This causes the tires to scrub and the steering to bind on dry pavement since the front and rear wheels travel different paths when turning. Dirt and other slippery surfaces will permit wheelslip to occur without putting undue stress on the drive line. But if you do it on dry pavement, your vehicle will let you know in no uncertain terms that it hates you for doing it!