I recently had this discussion with a long-time transmission rebuilder I happen to know. He really blasted the idea of making an NP203 (I assume that is the full time unit you are referring to) into a part time unit. Especially when using lockout hubs. He said that most of the NP203's that used lockout hubs are TOAST because it gets no lubrication to the bearings when locked out. The chain needs to turn in order to lubricate the hundreds of roller bearings that are in the case.
It is suggested that you every-so-often lock the hubs in and turn the gears and chain, but according to this rebuilder, it is never enough and you go back to running without lubrication as soon as you unlock the hubs.
I only asked this question when I removed my NP203 and found lots of little roller bearings rolling around in the bottom of the case. I asked this guy if I should try to find another NP203. He said if I did, it probably had lock-out hubs on the truck and would be equally Toasted on the inside.
I recommend you go with an NP205 or 208 that has factory part time capability - I'm sure there will be those who disagree with me on this issue, but after looking into my problem, that is my conclusion. Of course drive shafts, transmission adapter and crossmembers have to be adjusted. (new driveshafts and adapters). You can move the crossmember with some frame drilling. Keep reading this board and you will find all sorts of ideas of what to look for.
Be careful though - make sure you verify all the advise you get here.
Good luck.