As the others have said, the Disco 2 has the permanent 4 wheel drive system, and it doesn't involve a VCU. As also said the small lever selects between the high and low ratio gear ranges.
If the Centre Diff Lock system is fitted, that lever is also used to select or deselect it. The workings might be in the transfer box but the external linkage might be missing, only a physical examination will confirm that.
As far as the rear suspension goes, there are some who will cry out that air suspension is the work of the devil and should be removed as soon as possible, then there are others who will say that the system is well worthwhile and in fact quite easy to use and maintain, I'm in that camp, mine has only played up once, so I didn't argue, I just changed both airbags and I've had no trouble since.
If the vehicle has ACE (Active Cornering Enhancement) check that there are no oil leaks from the active anti-roll bar rams or the pipework, and while you're under there check around for rust.
Advice for viewing a Disco:-
Check for rust, especially around the rear cross member
Check that all the electrics work as they should, it can be expensive to fix some things.
Check for rust, especially around the rear cross member
Check for water ingress, damp carpets, water stains on the headlining.
Check for rust, especially around the rear cross member
On the engine, check for major oil leaks, traces of water in the oil, check the coolant for traces of exhaust fumes.
Check for rust, especially around the rear cross member
Oh, yes, check for rust!