I did it a few years ago. There were no negatives to this mod. (If you're under warranty and the dealer spotted it, that wouldn't be good, but the odds of having the 4WD computer fail are nothing to be worried about.)

I rarely use this mod, but mine's an auto, so I usually wheel in 4-lo anyway.


Wheeling a Stepside Tacoma on 37s
Exploring in a T4R Ltd V8