With our hills, 4WD is mandatory. I've got a couple of hills that I could mow pretty effectively with a good bush hog and the willingness to back up the things for every pass. My neighbor does that on his 30 horse Kubota and, while it takes a little bit of time, he mows every bit of his property. It would be impossible without 4WD.
Plus, I'm not sure there's a good reason to own a tractor if you don't have a FEL!
Todd -- Those are two features that will give you most of what you want. You are well on your way to having a good workable tractor for the Pondstead. Two other indispensable features are a "quick hitch" for the 3-point hitch, and a tooth bar for the front end loader. Both are relatively inexpensive, but are well worth whatever you pay for them.
Ken