Dieselfan this thread seems to be becoming more of a comparison between the Disco3/4 and the Patrol. Both try to reach approximately the same goal, but from opposite starting points. These vehicles are probably two of the most rounded all-purpose 4x4's on the market. There are vehicles on the market better suited to obstacle courses than either, and there are vehicles on the market better suited to driving to your destination.
I doubt though that there are vehicles better suited to loading a family of four and all their camping kit, and then driving to hellandgone over sometimes rough roads and off-road in for example the dunes of the skeleton coast.
The Patrol takes the route of mechanical simpicity. Ladder chassis with live axles on coil springs, part-time 4wd operated by a lever and diff lock for the tough bits, all coupled to a relatively simple engine (at least in 4.8 form) optimised for even torque rather than maximum economy.
The Disco is all about high tech. Independent air suspension and traction control, high tech engines etc.
What follows is purely theoretical, but:
Advantages of independent air suspension versus live axles and coil springs:
1) Lower unsprung mass. This should be used as a factor of total vehicle mass, and in this regard the Disco scores very well, because it is an extremely heavy vehicle. The result of this should be a more comfortable ride and wheels that can react more quickly to high-speed bumps, possibly resulting in better traction.
2) Load-sensitive air suspension as employed in the Disco means that the springs are only as hard as they need to be to carry the load. This should again result in a smoother ride. Metal springs must be designed to carry the maximum load, and therefore are harder than necessary most of the time.
Disadvantages of aindependant air suspension versus live axles and coil springs:
1) Articulation. In independant suspension, the CV joints limit the angle the side shafts can move through, and this in turn limits wheel movement. In the case of the Disco, when the suspension is adjusted to give good ground clearance, the wheel movement is further reduced.
2) Wheel angle. On live axles, the wheels are always approximately perpendicular to the axles, and therefore the wheels remain aprroximately perpendicular to the ground (this one only really works in theory).
3) Underbody protection. In a live-axle vehicle like the Patrol, the diffs are the closest items to the ground, and they are relatively robust. The rest of the vehicle is typically considerably further from the ground. Most of the modern independantly sprung vehicles have relatively flat underbodies, for mostly aerodynamic reasons. Furthermore when the wheels rise over a bump at speed, the vulnerable bits do not rise at the same rate, and so they approach the ground. So while the Disco in theory has more ground clearance, in practise vulnerable bits may well touch ground more often. This is certainly true for the Pajero.
Of course there are a multitude of other factors that can affect all the above arguments. I don't even want to get into arguments about relative reliability, except to say that the more there is to go wrong, the nore opportunity there is for things to go wrong.

Mag ons ons kenniskry met lekkerkry aanhoukry.