Excellent basic machine, 45 HP but conservatively rated. Pulls a 16" x 14" Hesston baler easily, which is supposed to take a 50HP machine minimum. Lower HP machine built on a larger frame, not a compact which I think is important for hay work. I'm 6' 7" and have plenty of room. I would never buy any tractor without a canopy and this one works great. Very reliable and a pleasure to drive.
I also have a 75HP Mahindra (7520) also in 4 wheel drive and the Deere does all as well except it is too small to run the 1033 hay stacker. I recommend always buying a little more tractor than you need because too small is not much cheaper. The 5045 can be turned into a 5065 65 HP just by turning up the pump. We compared all of the specs and looked at the machines, there are absolutely no other differences...except price.
This machine is used mostly to mow large grass areas in my mobile home park, and is a second tractor for haying on my farm.