I've known several people that have tried El Dorado calipers, hated them and ditched them. As others have mentioned, sounds like a longer bracket and constant adjustment might be the way to get them to work ok.
1. Driveline brake - either on the TC or driveshaft or pinion, effective, but expensive as all get out. requires alot of replacement parts and often a special Slip yoke eliminator to mount the rotor too. Also, if the TC goes into neutral, your kinda up ****s creek without a paddle as far as using the brake.
The t-case mounted brake will work just as well regardless of which gear the trans or t-case is in. The caliper is mounted to the t-case, it doesn't matter if it's in neutral it will hold the truck.
Driveline brakes are VERY effective because they are upstream of the differential gearing, hence even though the rotor/caliper is smaller it's 4.xx (or whatever the diff gearing is) times more effective than a wheel brake.
I run a line lock both for front dig capability and as a parking brake. It's a cheap (Jegs brand I think) electric lock, contrary to what some people say I've left it on (accidentally) for a week or so at a time and it had not bled down at all.
This topic has been beaten to death. No, electric locks won't work if you lose hydraulic pressure somehow and they won't work if you lose power/ground (do a good job of wiring and it's not an issue, how many electrical things do many of us still trust after 30+ years of service?).
Mechanical e-brakes won't work if a cable snaps, gear mechanism strips or if the cable brackets get bent. I've seen all three, nothing is guaranteed reliable.
To me, the bottom line is that it's a secondary brake and not really to be trusted. If there's a chance your truck can roll into children or a bus full of nuns, turn the wheels when you park so it can't.
If you need a backup brake in case your hydraulic brakes suddenly fail (rare, but it's happened) then a mechanical brake system is what you need.
If you're looking for a parking brake, line locks are a very easy, cheap, effective, maintenance free option.