All correct. By todays standards 115HP is crap-box territory, but in 1984 the all mighty 350 only made around 160HP. For that matter the Ford LTD Police made a similar 160, plus police gear. I think the light unibody Eagle could stress the heavy body on frame LTD in a chase. Hardly a cake walk, but not an immediate conclusion.
As for the part time, as early as 1984 the XJ and even SJ Jeeps had the full time NP228, and 229 transfer cases. The 1982+ S10 Blazer had the optional NP203 for full time. We are talking chain drive open diff AWD, but power was sent front and rear, and could be used on dry roads.
I didn’t know the exact year Cadillac started the FWD V8s, but 1984, and 1985 count as “mid 80’s” and since we aren’t building replicas I say it counts. If you want FWD that is.