All the posts I have seen on this thread make sense to me. I would like to add something. The speed you are mowing has everything to do with how much power you need. If you're willing to go slow, you can run a heavy pull mower with as little as 20hp per spindle. The downside is that you will bog down in heavier conditions, and have to slow down, or even do a quick lift up, to save stalling. The upside is big, though: You can use all the width of the mower when conditions are easy (cutting high, or dry, or thin growth) and possibly save getting another tractor just to fit the recommended range of the big mower. The cost of the wide mower is less justified, though, if you're spending most of the time going slower than you would with a more narrow mower.
Personally, I would rather a wide mower, even with slowing down, since the more narrow the mower, the more percentage of production you lose to overlap on each pass. I find in Florida that I can run almost 6 times as fast in dry, weed topping runs, than I can when I have to cut dense grass. I use 2 tractors, a JD3020 and Kioti DK65 (65hp) on a 15' batwing. In the south, most bushhogs have a 5' spindle, some 6 or 7'. I'm on the low end of the recommended hp! But, I've got utility tractors that do other things, and I get a big time savings still, by having the 15 footer, even in heavy grass, over triple the passes with a 6 or 7 footer, (remember the overlap loss).
The multiple gears of our tractors allow quite a bit of flexibility. Full time cutters go 80-100 hp for the same mower as mine. Also, going slower CAN allow a better, more mulched cut, depending on whether you're on the verge of choking the cutter. For shredding saplings, you're going to probably want to hit them multiple times, to get the sharp cut ends under control and feathered.
I have a fence post puller attachment for the loader which is ideal for pulling saplings, roots and all so you don't get those sharp stalks sticking up, but it's obviously much slower than bushhogging.