Defueling is a general term for when the engine governor restricts fuel delivery for engine preservation. IE: If you mash the accelerator to the floor, the engine should rev to a preset RPM, then Defuel. The restriction in fueling keeps the engine from overspeeding & destroying it self.
Does your 04 do it? It depends on how you drive. If you never exceed 3kRPM's, then no, you are not going to notice it.
Defuel is not important to the everyday driver, but to racers & sledpullers, it is very important indeed. P.