It doesn't look like your question was actually answered to your satisfaction. I have a 2001 4Runner and like you do not have an elocker. Here are the various modes we have:
2WD
Left Lever in H and shifter in D,2,L
When to Use: Daily driver all the time
4WD H
Left Shift Lever in H, button pushed in and shifter in D,2,L
When to use: Anytime you want or all the time if you want. Shift in and out of 4WD on the fly up to 62mph. This will more than likely be sufficient for most snow applications as long as you don't need to go up or down any steep hills. To answer your question, yes it's similar to AWD except you actually engage the 4WD.
4WD L
Left Shift Lever in L4, button pushed in and shifter in D,2,L
When to use: Steep hill climbs and decents in snow. You must stop and place your transmission in neutral before shifting to L4. Not to be used on dry pavement or in any conditions where you need TRAC or VSC.
In snow conditions I use L4 when decending a steep hill. This allows me to let my 4runner take me down the hill without the need to continually apply the brakes to slow down. I may use it to take me up a steep hill, however, you want to be careful you don't max out your gears. Often times H in 2 or L will suffice.
Center Differential in either L4 or H
Using the center diff will give you TRUE 4WD where you need traction applied to both the front and rear axles, if one wheel is spinning. I think the perentage is around 60/40 or 50/50 per axle. The center diff mode is applied when pushing the button in to the left of your steering wheel below the instrument panel AND the button on the 4WD shifter pushed in. This mode is used predominantly for off road applications where you are susceptible to isolating one wheel or getting stuck in the mud or on slick rocks.
Only used on straight paths where traction is needed in a slippery or stuck condition. don't use your center diff if you plan on making a lot of turns. It's not designed for that. You'll destroy it.
I've never had to use the center diff in any snow conditions on road. Off road when playin in the snow, yes I've used it. I've also used chains on road in sketch conditions just to be on the safe side. I use them in the front with 4WD engaged. Your users manual will tell you to use them in the rear.
In our year vehicles you have pretty good 4WD with the A-TRAC and VSC system. It's as close to a true OEM E-Locker as your going to get without having one or an air locker like the ARB.
I'm sure there's a ton of information on this in our own forum and on you-tube etc. If I were you I would get familiar with the above link in another post on the T-case differences, VSC and TRAC. Hope this helps a bit. Others will chime in if there's something important I've left out. I'm just speaking from 15 years of ownership experience and driving in the snow with my 4Runner. I couldn't tell you all the differences in each of the 3rd gens.