The transfercase is getting splash lubed during normal driving. The whole point of the article Falcon was referring to was to keep all of the front axle components lubricated if you're not normally using 4WD. Think about it, if you never engage 4WD, the top half of the ring gear is never submersed in oil and could potentially rust pit. Same with the pinion bearings. I've actually seen this happen.
So by engaging 4WD with the front hubs unlocked, all you are doing is spinning the gears, bearings and axles to give them fresh lube but none of the power is applied to the wheels. There is nothing wrong with doing this. The hubs are their own device and are coated with grease so it is not as critical to lock them in for same "preventative maintenance". Locking in the hubs only ensures that the axle will be going the same speed as the wheel.
While my Jeep was stored for almost 10 years, I would just unlock all four hubs(I have a full floated rear axle), and would run the trans through all the gears at idle a couple of times a year. This made sure that the entire drive train would get freshly lubed.
So to answer the original question, if you are not normally using four wheel drive, it is not a bad thing to shift it into 4x4 with the hubs unlocked for a mile or so every couple months. It does help but there is no reason to go overboard with it either.
This same theory applies to parking brakes. You should activate your parking brake, on any vehicle, at least once a month whether you need to or not. It helps keep all of the components free from binding and rust. You have no idea how many vehicles I see in WI where the parking break isn't used for a 3-5 years then when they get their first state inspection, the tester applies the parking brake. The brakes apply then seize so the vehicle won't even move. If they had applied the parking brake once a month, that wouldn't happen.
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1979 CJ7, FI 5.0L Ford, NP435, D300, Full floated D44 Detroit, D30 Detroit EZ Locker.