A locker usually uses "teeth" with pressure applied by large springs to engage each side. When not under power, the springs will allow the teeth to disengage from each other, (like while making a turn). This causes a racheting action which you can hear and feel.
If under acceleration, the teeth engage tightly and won't disengage from each other. This is great for off road, but is sometimes bad manners on dry pavement. When turning under load, the axles are locked. One wheel has to travel more than the other. This action will eat rear tires.
A limited slip usually uses clutches to put power to each wheel. Dodge uses a trac-lok, or a powr-lok. The trac-lok uses a series of clutches, (10 each side in a Dana 80), to engage each axle. They don't work to good the way the clutches are stacked. You have to get it just right with clutchs, and limited slip additive. To tight, you get chatter. To loose, limited power to both wheels.
The powr-lok uses the spider gears on a ramp. That means, the more power put to it, the more pressure the spiders put on the clutches. This is the better set-up. It actually doesn't lock, but is hard to get one side loose.
Ryan, your truck has 32 splines.
Pictures explain better.
Detroit Locker:
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Powr-Lok diagram:
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Brad