I guess if it were me, I'd probably do the following in this particular order:
1) Raise one wheel at a time with a floor jack and rock each wheel back/fourth and feel (by hand) what level of freeplay there is. There will be some, of course, but take note of how much. If you can...Ideally come up with a way to lock the pinion 'solid' ..maybe tying down a chain vise-grips on the DS onto something solid so the driveshaft isn't moving AT ALL. Then you get a greater sense of what's going on with the diffs and axle splines as you rock each wheel. Repeat the same process for the front. Pay special attention to the joints and front diff outer axle joints for excess movement.
2) Get under it...(wheels on ground, but axle
wind-up released)...and shake the driveshafts vigorously ...like you mean it! Feel for any freeplay up down sideways. Pay special attention to the U-joints at the pinion, and any center bearing at the rear driveshafts (if yours is split), and front driveshaft splines and CV. Then rotate the driveshafts by hand and observe movement.
3) Remove the driveshafts at the pinion ends (wheels on ground), one at a time. Rest the loose end of the driveshafts on a bucket or something (don't let the U-joint caps fall on the ground!! ...tape them). Then rotate the differential pinions back/fourth.
Rotate the removed
driveshaft (vehicle in 4x4, tranny in "Park") and feel for excess back/fourth slack. Esp the rear driveshaft. Test the splines where they enter the transfer case output shaft. There will be some slack, but how much? Try to quantify if you can. Look for any side-to-side movement in the driveshaft joints. You may need to hook at chain vise-grips to get a little extra leverage to use more back-forth turning torque. Grab the front driveshaft and rear driveshaft at the transfer case ends and counter-rotate with your hands. How much slack do you feel? Look for excess freeplay on all these 'tests'.
4) Support the rear end on jackstands in the air, then rotate the pinion by hand feeling for smoothness ...or bearing roughness. Never hurts to check. At this point I would lift up/down on each wheel to check the wheel bearings for any slop. Or use a 2x4 under the tires if you have oversized tires on it (they're pretty heavy). Now's the time to check them. Same with front only you want to rock in/out with your hands at the 6:00-12:00 positions on the tire/s.
5) You can repeat the tests for 2WD too if you want.
6) Pull a U-joint cap off the rear DS U-joint and inspect the trunion/s for fluting. Now is a good time to do that. Add a daub of like-grease if they look dry. Replace if you see any fluting. Otherwise put it all back together and let us know what you discovered.
That's pretty much it. If I missed something, I'm sure other forum members will fill in the gaps.