I ended up buying a used L48. My brother has a large full size ford backhoe that I have a lot of time on.
Now that I've had seat time on both, I must say I REALLY like the L48. I've already found several jobs around my place that I can do with it, that the full size can't do! It's not because the L48 is stronger, it's just smaller and more agile, it can get into positions that a full size can't. Wiggle through tight trees to dig out an area in a pond, etc. The L48 barely clears my barn stalls and can clean my barn out. The L48 leaves less foot print in my yard then the full size because it doesn't weigh as much, but it is heavy!
Yesterday, I decided to take the backhoe off it, so I could clean the barn "hoe doesn't clear doors". WOW was it easy. I never guessed it would be so easy to take off. You pull 2 pins and move a couple levers and the hydraulics does the rest. Took me 3 mins or so. Next time it'll be faster, since I know what to expect. I hope putting it back on is as easy!
I find the loader and hoe plenty strong for every task I've done so far. They don't have the strength or capacity of a full size backhoe, but they are way stronger then simliar size compact/utility tractors!
I've put almost 20 hours on my L48 and really the only grip I have is the gear range, which everyone grips about. As MANY have noted their is too much gap between the Medium range and High range. The high range is not a working gear, just transport. This causes you to have to shift between Medium and High when doing front end loader work that requires much travel to dump. I never use the Low range, it just doesn't seem required, as it never has stalled in Medium.
So all this debate on which backhoe you should get, a full size or L48 or 110, is easily answered in my mind. None of them is the best backhoe for every job. There's jobs a full size's strength, weight, and speed is best, altough most jobs a full size can do, a L48 or 110 could do, but slower and less effecient. There's also jobs a L48 or 110 can do a full size can't do at all, because it can't squeeze into position, etc. It's all about choosing the right tool for the job at hand. So if you can't have more then one piece of machinery, choose the one that will do the most jobs YOU have to do the best.