That kind of HP shouldn't hurt a 4.3 Transfer case or the front differential. 400 lbft is getting up there. My LQ4 2500HD and LQ9 Escalade engines don't produce that much. You'll likely be alright as long as you don't drive it like you stole it.
Both the front diff and TC are cheap used. Keep an extra set on hand if you plan to abuse your truck. Neither is terribly difficult to replace. There were a few cast iron front differentials installed in S10's, but they're rare. I think they only went into some of the 4.3L - 5 speed 4x4 trucks. My automatic ZR2 does not have one.
Both the front diff and TC are cheap used. Keep an extra set on hand if you plan to abuse your truck. Neither is terribly difficult to replace. There were a few cast iron front differentials installed in S10's, but they're rare. I think they only went into some of the 4.3L - 5 speed 4x4 trucks. My automatic ZR2 does not have one.