I believe power to front and rear wheels are locked, but front L and R are not locked since there is no front locking differential. Thus you could get front wheelspin (if it weren't for the traction control).

Based on experience, traction control is not a great substitute for a locking diff (not to mention no LSD like in the X5), but in the case of the Cayenne, it is a fine compromise given the presence of the longitudinal and rear locking diffs.

So on a huge vehicle like the Cayenne, I wonder what would provide the better incremental off-road capability: locking front diff (which is unavailable) or disengaging sway bars.