| Charlie,
You could use HL in the rain, but I would advise against it. You will feather your tires. Use 4 wheel on surfaces that have some give like snow, mud and gravel. The issue is that the front and back wheels are not synced so that they will push against each other when on asphalt when they turn. To experience this, put the 4 wheel in when stopped and try a hard turn - forward or reverse. You will see what I mean. If you use it in the rain - make sure it's really needed. A torrential downpour or hurricane comes to mind.
If you are going to use 4 low, I would stop the vehicle first. You would probably be fine if you were going below 5 mph, but why risk it? My 4 low gets used very infrequently - mostly when I'm towing someone out of a ditch or want a slow descent down a steep grade.
Also, since you sound a bit new to this, remember to engage you 4 wheel about once a month (at least once a quarter) to work it out a bit. This prevents problems from disuse. Do this on a gravel road or off-road.
have fun with the FJ. They'rre Grreaatt! |