Off road. On road, you won't notice much difference. But I would look for a late model DII LT230 to swap in. The main reason Rover went to the BW box in '89 (prior to '89. all RRCs had LT230s) was noise and ease of operation. Since the Range Rover was the upscale vehicle in the Rover lineup they wanted to make things smoother, quieter and easier to operate so they used the Borg-Warner transfer case. It's chain driven instead of gear driven (not really a plus in my book) and has the viscous coupling instead of the center diff lock so operation is simple, you only have to select high or low range and don't have to decide whether to lock the center diff or not.
The later LT230-Q from the DII has the gears cut differently (and a few other changes I believe) so it's quieter than the older boxes. I have one from a '02 DII in my RRC, and I can't hear any more noise from it than I did from the old BW. You just have to be careful what you buy, the late '02 and '03 boxes had a non-locking center diff since they had traction control on those trucks and felt that there was no need to lock the center diff. They realized their mistake with the '04 and put the center diff lock back in. However, it's very simple to convert a non-locking LT230 to locking. I have one from an '03 that I converted for my D90.
Now that we bring up the subject, if you were planning to wheel the RRC very much, I would certainly consider changing to an LT230. If it's only going to be street driven or see easy trails you would be okay to stay with the BW, but I would start looking for a spare to have on hand. The BW box has three weak points: one is the already-discussed viscous coupling, the second is the drive chain which can stretch and slop around in the box after a lot of miles and eventually break, the the third is the input shaft splines which tend to strip and leave you stranded. A low milage BW is not necessarily a bad thing, a high mileage one is a ticking time bomb eagerly waiting to strand you at some inopportune moment.