Long answer:
As I understand it, a minispool is a device that basically replaces your spider gear assembly and sidegears with a solid piece. It does the same thing as a welded spider gear assembly.
A locker is a device that has the abilitiy to lock the two axle shafts together depending on load conditions or driver selection.
A selectable locker (ARB makes the most popular aftermarket unit) allows the driver to switch from an open differential to a locked differential through extenal controls.
A Lockrite or Detroit (brand names) locker is similar to a minispool except that the spider gears are replaced with spring loaded gear facings that mesh with the existing side gears. Under load, the taper of the gear facings along with the effect of the spring loading causes the axle to "unload", "pop" or "slip a tooth" when excessive axle load is applied at the wheels.
Short answer:
A minispool will be harder on your drivetrain, but no harder (and probably more reliable) than welding the differential.
Hope that this helps!