I've used a 1-7/8" ball hitch several times and it works very well. Good articulation, fast and easy connection, doesn't come off when you drive over objects that catch.
Honestly, I'd ditch the walking beam suspension. Too fancy. I have a single axle on my trailers and I can still load them more than what my atv can move.
your right there you can put a lot of weight on the single axle, I have a single axle trailer that I can load to where I have trouble pulling it with my atv. and that's with some good down pressure on the tongue...the thinking behind the walking beam (ive never had the opportunity to use one) is that it will hop over mounds/logs/curbs/roots much easier I know with my single axle if im trying to back up and have a small obstacle behind one tire it wants to twist sideways sometimes rather then go over it. that being said the idea would be to make a walking beam but not make it any heavier then a single axle...that's where the work would come in..
I've got a friend with an ATV trailer that has a walking beam axle (don't remember the manufacturer..) For rough off road use it seems to work pretty well. But he says it does have one problem.... sometimes when going through holes that are either bigger than the tires or has a step to get out that is over half the tire height, the front tire gets hung and forces the axle down picking up the rear tire.... it will also hang up some times on tree stumps. His trailer does have a LOT of travel before the axle limits out....
Just something to think about...
Good luck
NV