Check out this youtube link. Best example starts at about 1 minute in to about 1:15. Easy to see that the front of the leafs are bending under load. Pinon is headed north as axle rotates CW. Also easy to see that having something that limits the axle from rotation CW (up) will help reduce axle wrap. This with a 10 or 11 leaf stack.
After watching about 30 axle wrap videos and reading several axle geometry articles, I have learned that in most street applications, the rear shackle moves about 2" aft to absorb the increased length of the leafs when compressed to about flat. On my bronco with a 2.5" lift, that is about a 4" compression from sitting arched to flat. When a fixed length TB is introduced, connected at the u-blts and up to the front leaf eye, that front portion of the leafs cannot easily compress. The TB and the leafs move up and down in parallel but most of the compression of the front leafs is restricted due to the fixed and rigid length of the TB. This is what makes the ride harder...half of the leaf (the front half) is not able to compress as normal. The rear leaves still compress as normal whuich results in the rear shackle still moving but only about 50% of normal...so about 1". Fixed traction bars do a good job of minimizing axle wrap and do a great job of firming up the entire rear axle geometry, but the tradeoff is a loss of ride to some degree. For most pure street rides, not noticiable. However, not great when truck suspension is used for a lot of non-flat terrain.
So what I take from this thread (great inputs all), is that axle wrap is a real thing that increases in concern as your tires get bigger, HP increases, and/or leaf stack is weak or soft. Additionally, axle wrap is application specific. If you have an around town driver, likely will never have any issue under almost all conditions unless you have weak springs. If your hitting the pedal hard, burning out the tires, have lots of HP, even in town you will risk damage due to axle wrap. If rock crawling, its all a whole new issue that requires much more thought, prep, and $s. If my bronco was to be used in an off road environment very often, I would absolutely look for a TB that has a built in shackle or pivot that allows the TB to move aft during suspension but remain rigid during axle torque.