I agree with IndianaRed, and I also wonder if fixing up the $550 tractor might not be easier, using the "free" one for parts ("free" tractors always cost you money!). You said the "free" H is locked up and the other one is "not running", so I'm assuming it can be turned and, barring anything major (like a cracked block), it seems like it would be in better shape. You probably won't know anything for sure until you get inside them.
But, yeah, I think $550 for a rolling chassis with all those parts you need sounds good.
Just a thought, maybe not even worth two cents. ;)
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