Bob, I am not a tractor expert, but I do have lots of different "terrain" and "cover" that I take care of on our 300 acre farm.

I think your JD 4110 probably has MFWD (Mechanical Front Wheel Drive). That give you some "half-a**" 4WD which actually helps a 20HP do a fair bit more work.

If your property with the pond is flat, smooth, and manicured like a yard, then you can mow with your MMM. If it is rougher terrain, OR if you are cutting small trees or nasty vines, then a brush hog type mower is the way to go. (I believe the modern brush hog mowers are made to be matched to the tractor's HP at the PTO.) I have seen 4' brush hogs that require a minimum of 15HP at the PTO. The JD specs say you have 17HP at the PTO.

That little brush hog can only cut brush up to 1". If you have a grass field full of little cedar trees or pines, you could run it all day. If you are cutting 1" hardwoods all day, you will probably wear out that brush hog a little early.

You would also be amazed out how easily you can grade or dress slopes (or even do light ripping) with a box blade. Go look at some of the videos on youtube and see if you have enough of that kind of work to justify buying a box blade.

I have never switched out a MMM, so I don't know how much time that would take you. Hope the rest of my comments help you.