I own a 2305 with FEL, 54c MM, 260 BH and independent lift with a diverter valve. If you look at the 2305 look on the right rear fender down low, near the foot rest and you should see the diverter valve controller if equipped. Also look under the right foot rest and you should see six hydraulic outlets, two for the mower lift and four for the FEL. Nice unit has done everything asked of it. The only problem after 18 months of ownership was with a leak on the transaxle that was taken care of under warranty. The unit does have an external cooling fan for the transaxle but this is not a concern for me since I have no intention of putting the unit in an area the fan could be damaged. The three PT lift takes some getting used to. It is not position control, but can be stopped at a predetermined height or location. I also use a PTO driven 30 gallon boom sprayer with the unit and a PTO driven 300 pounds capacity fertilizer distributor. In my opinion the 2305 or 1026r is an all- around unit for a homeowner looking for a small tractor for use in a residential setting for mowing, FEL, Backhoe, using a fertilizer distributor, or sprayer or a PTO driven tiller. (I have a large tiller which I use on another tractor) The independent lift makes mowing with the MM easy.
I understand the 1026r does not have an external transaxle fan to worry about if one wants to drive in the woods. I also understand the three point lift is now position control. This would have been nice on the 2305. Some posts that I have read from owners advised the 1026r does not have the capability of adding the independent lift with the diverter valve option for the MM. This I do not know. I have not discussed with my John Deere Dealer since I currently have no desire to replace the 2305 at this time.
If confronted with your quandary today which would I buy the 2305 or 1026r. It would depend on the price on the 2305 and what was included FEL, Backhoe, MM and independent lift with diverter valve. I would also factor in my intended use. If I was going to use a lot of implements on the three point lift, something other than a fertilizer distributor and sprayer I would definitely want position control. If a substantial cost saving for the 2305 over the price of a new 1026r was not an option, I would buy the 1026r.