I ran the ax15 with a 242 for a few years on my first xj when I kerploded my 231. It worked fine, and between the 242 and the lunchbox locker in the rear, I never really noticed anything excessive beyond what I was already used to.
I had a 4.5" lift with 32's and a t-case drop spacer.
I kept that transfer case for about 5 years before I sold the jeep, and drove it all over the country, wheeled the piss out of it, and eventually my transmission stuck in 4th gear, and I could never get it to come out before I just sold the jeep.
I doubt the tcase had as much to do with the failure as much as hundreds of thousands of miles and years of heavy abuse did. Anybody who knew me during the ownership of this poor Jeep knew it was well loved, but treated like a rented mule.
I didn't like the 242 with the 5 speed as much as I did with the aw4 in another jeep, as far as snow driving went. The auto just made it a seamless action, which I had to try too hard to replicate while rowing my own.
YMMV.