I agree with Bob. If you can do it, get the 7610. You will not regret the 3 extra HP. Around here, it was only $800 more than the 7510. It would be worth it especially if you plan on running a rotary cutter at the rear or a snowblower (especially if it's a front mounted one). Both can really use the extra HP. And could make the difference in using a 5ft rotary opposed to a 4 ft. The 7610 COULD run a 5ft, it you do mostly light stuff, or take it slow the first time, where as I couldn't see running a 5ft on the 7510. Though others here would know much more about this. Around that PTO HP range of 16/18, the line is that thin. And as Bob pointed out, the larger engine does produce more torque than the 2 hp increase indicates.
On going up a hill in high gear with he HSD. I have some large hills on my property. Some my 7610 will NOT climb in high gear. Don't lose traction, don't lack HP. The high gear (I guess) just isn't designed for that. It's for smooth traveling only. Though I do mow my lawn and most of the field in high gear. (both are fairly flat) Just so that I can back up & go from one area to another quickly. (I'm usually trying to mow before it get s dark) Some spots the 7610 will mow up the hill in high gear. I just drop into low for those areas and it chugs up (mowing) without breaking a sweat.
Like the quarter-inching 3-pt really bugs some people (over the position control), the 2-speed tranny was something I knew when I bought the 7610, that I'd have to learn to live with. Unlike the 7800/2630/3030 series that has a 3-speed tranny. The middle gear would be perfect for light loader work and mowing. Low enough for a little grunt work, and high enough to get some decent speed out of to travel a fair distance. So instead, I shift it front low to high pretty frequently.
-cheers