everybody knows that with these trucks there seems to be a problem with the abs and e-brake lights coming on in the dash (have a friend who has a subaru, and his subaru had the same problem). i'll read up about how to fix this later.

until then, my question is...when the lights come on in the dash (abs specifically) does the anti-lock braking system shut off!?

When the ABS light is on, it usually will not operate.

Personally, I think ABS is overrated. I'd rather not have a car with ABS.

I second that notion. I rather not have ABS, it causes opposite problems from what it is supposed to save you from.
My 2 cents.
Jim