Traction control basicaly limits wheel spin to a given drice wheel(front, rear, or awd) by applying slight brake pressure to the wheel or wheels that are slipping. the tourque is then transfered to the wheel that grips, or if both wheels are spinning, it pretty much pumps the brakes to keep minimal wheelspin. as far as limited slip, ever been stuck in the snow, or mud? the wheel with the traction does nothing, while the one with the least traction spins like crazy. with a limited slip, is more evenly distributed to the two wheels. While you will not get 50/50 on any limited slip, your traction will greatly improve. for instance, if you have a pretty powerful rear wheel drive car, making a right turn under full thrittle will spin the right tire really fast. If you have limited slip, both wheels will spin causing oversteer(the back end comes around). limited slip has a much better traction during take off. lets say you have two identical cars getting ready to dump the clutch. one has limited slip, the other with a standard open diff(non limited slip) the car with limited slip will have less wheelspin, and much better acceleration during wheelspin (since both wheels are spinning, and have a more even distribution of power), while the one with the standard diff will spin the tire with the least traction, meaning much less power to the other wheel, thus much less acceleration under wheelspin, since the wheel that isn't spinning has almost no power going to it.