need help with id transfer case tag

[72timemachine]

My friend has a 1985 4x4 chevy truck with either a np 203 or 205 transfer case. Am I correct that the 205 is better constructed than the 203?

If he does have a 203 will the 205 ,ate up to the 700r4 we want to install, I have a 1991 700r4 that came out of an 84 blazer.

Finally, how do you understand what the round id tag on the transfer case means, the one in the picture is out of an s 10 but they all seem similar.

Thanks for any schooling help.