Ground clearance is a bit of a limiting factor on the Rancher in soft or rutted stuff.

They do have a low center of gravity which contributes to their excellent handling, and ability to handle steep grades.

They will also spin all 4 tires, and the situations where a locker would get you through where Honda's system wouldn't will be very few.

ES would let you pull your legs up to keep them from going under the mud and still be able to shift, but ES tends to be more likely to have issues if dunked all the time.

 

I have only had my new 2010 420 Rancher( PS,ES, 4x4) for a few weeks now but can say so far it seems unstopable whatever mess I have put it into. I have climbed high grades nearly straight up and down the low center of gravity has been a big plus. I crossed a real bad creek crossing that no one has crossed on my hunting land in many,many years we call it the "Widow Maker" over the years it has just become about so bad that every one goes 1 to 1.5 miles out of their way to cross a better spot. I went right down the steep grade bank into the mud hole and right up a a 1 to 1.5ft drop bank no issue at all factory tires and all. The guys riding with me just stood there and watched then drove around the 1.5 miles and meet up with me not risking the crossing. I plan on adding some better tires but so far I really haven't had any issues.

 

I would suggest unhooking the battery and taking apart all the connectors to clean them and hit them with some dielectric grease.

If you are going to do deep water/mud often, it will prevent little gremlins with the ES system down the road.