You say that you do not need a big tractor then the question is what will the 504 do that the ole h that you already own will not satisfactorily do?
Sure the 504 has more hp but it has to rev to make it. The ole h likely has more torque although less hp.
The 504 will freewheel in low side torque like all Farmall's do older and smaller than a 706 which can be a bad thing if you have lots of hills. Other than that I have never really heard anything bad about the 504's other than they are not really quite as powerful as the hp ratings would lead you to believe they are. The 504 would have live hydraulics and live PTO which is a bonus over the h.
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Today's Featured Article - Tractor Profile: Farmall M - by Staff. H so that mountable implements were interchaneable. The Farmall M was most popular with large-acreage row-crop farmers. It was powered by either a high-compression gas engine or a distillate version with lower compression. Options included the Lift-All hydraulic system, a belt pulley, PTO, rubber tires, starter, lights and a swinging drawbar. It could be ordered in the high-crop, wide-front or tricycle configurations. The high-crop version was called a Model MV.
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