I have both the 300U and the 340U here. They are very different tractors, 2 different generations. The engines will not swap. The power steering does seem to be interchangable, but the hydraulics systems are different, so you may be missing critical parts.
As a loader tractor, I find the 340 to be the better, but it does have less Hp, less weight, and smaller brakes. But the front axle seems better fitted to an appropriate sized loader. We had thought the 340 would be dedicated to a backhoe, but the weight of the hoe and the digging forces seemed to be too much for the 340. So we never mounted the hoe.
Look carefully at your hoe, If the cylinder rams are rusted they will tear up their seals the first time you move the cylinders, and then the hoses can add up to be a whole bunch of $$$.
The front mount pump should fit both tractors, but you may need an adaptor to the front pulley.
Both models are good utility tractors, but neither is strong enough to do any real digging, unless you are very careful not to strain it. Just my opinion....
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