Well, some of you are half right, half wrong and half it won't matter.
Swaybar will reconnect at 19 mph 4/lo 4/hi.
Lockers will disconnect at 19 mph, but are only available in 4lo.
That being said, the PW's come with a great, tight, always functioning "Limited Slip" rear Differential that makes running 'locked up' in 90% of high speed sand situations pointless. Actually, unless really buried in deep, where you would want 4-lo, the lockers make it more difficult to run on sand than just running open diffs. This, as with the front unlocked, and the rear utilizing it's transparent Limited Slip Differential, it seems more inclined to 'float' on the sand and not 'break the upper crust or 'skin' of the sand's surface, as it does when 'locked up'.
4-Hi, just aired down, the Power Wagon is a sand beast! (Check around, I just did some tire testing and Dune running and put up some new videos on my youtube channel. I will provide links in here (PW-specific section, and in the Pic/Vids area). .
4-Lo is too low, for other than starting out already buried to damn near your hubs. It just churns big holes.
Trick is, to remember to not just hit the Traction Control button once (which kills T/C in 4-hi), but hold it down for about 5 seconds straight, so the T/C AND Stability Control Programs shut down. This allows full 'fun' mode, and will allow you to get around everywhere, without the truck fighting it's own internal safety (liability) programming.
*Just remember; With every re-start, or every time you pull that lever out of 4 Hi, you will have to go through the same process, as it always 'defaults' by returning to all the 'nannies' on. Most people don't know that, and can't figure out why these 'should be' highly capable trucks can't go anywhere. Same with my wife's Rubicon.
People get stuck in Ice, Snow and Sand just sitting there, because the T/C is preventing any of the needed wheel spin to get rolling. It also 'clamps down' once rolling, with these systems left on, preventing you from gaining any forward momentum or "steering with the rear" wheels as needed, or for fun.
SO: Air Down! Don't be afraid.
Then: 4Hi - hold the T/C button for 5+ seconds straight to shut ALL the electronic aids (handicaps) off. Let the rear Limited Slip do it's thing, and the truck WILL go to work. Totally different animal.
Then go for it!
Save the super low pressures , 4-Lo and Lockers for when totally buried, or steady-rate pulling or recovering other stuck vehicles, like RV's, trucks with trailers or when the sand is damp and you have the traction available - and it is really needed.