The lowdown on square shafts...
Basically, there's no way they can be balanced to the point that they won't vibrate. I've never tried, but know a guy who has, there's too much slop and well...it's a square...
They will handle torque very well from a breakage standpoint. However, the more pressure on the "splines" the more a shaft wants to bind. This becomes a problem with a square shaft because there are only 4 points of contact. Basically, if you're on the throttle and come down on the front end, the shaft can bind and rip the t-case off of the transmission.
My opinion...square shafts are for trail rigs only and there had better be a brace on the side of the t-case so that it doesn't try and rip your drivetrain apart. I know a few guys that run them successfully but have heard of more than one guy breaking a TH400 case as well.