This one definitely had a clutch. I'm green when it comes to tractors, but not that green. Thanks for your concern though.
OK, I believe you about the clutch. It's kind of unusual for a hydrostatic transmission to have a full size dry clutch between the engine and gearbox, but some do. Our Kubota does.
No, I don't have the slightest clue as to why the manufacturer would put a full size clutch on a hydrostatic tractor, but our Kubota
M59 with a hydrostatic transmission has what appears to be a full size clutch mounted in the bell housing just like any straight gear shift tractor, pickup, or truck. And it works just like any other dry automotive type clutch so that with the left foot pedal I can interrupt the flow of power from the engine completely - In fact I can clutch the hydrostat just as you would a normal gear shift transmission.....although why one would want or need to do that with a HST transmission remains a mystery to me.
Since the clutch interrupts the flow of power from the engine to the transmission, it also serves to cluch the PTO shaft - making it into a fully independent PTO and able to be engaged nice and smoothly instead of with a "THUNK" like is common to PTO's as they get under way. That's fine, but the old method of engaging the PTO with a THUNK or with a smaller dedicated PTO clutch didn't seem to cause any problems I've ever heard of.
The one thing that the clutch on the Kubota
M59 HST doesn't do is enable us to change HST ranges on the fly. We still have to stop to change between L/M/H ranges.
ABOUT HST NOISES.... Hydrostatic transmissions do make the weirdest selection of noises. A sizzling sound is common as are several types of hiss and rubbing sounds. And they are famous for making a constant whine when the HST is pulling hard. It can be especially loud when trying to pull a grade in too high of a gear. Changing to different (more expensive of course) trans-hydraulic fluid can change the HST noise but not eliminate it on a bad one. Yep, they hiss in neutral and holler or cry when working. That's a HST. It can be un-nerving.
Noisy HST's scare me. For an old gear head mechanic, these new HST are mysterious and magical - and scary. Yes, I know how wonderful that HSTs are to drive. That's why I bought HST on our last new tractor. I love the way it works. It will cry sometimes, too. And I know that all the HSTs I've heard seem to always be whining and crying at least some of the time when they are working. Go listen to a Bobcat skid loader some time. What a racket they make! Skidsteers are almost all HST and they are all of them famous for their whiny HST. It's also true that by now the HST has been around long enough for us to see that they are amazingly reliable in spite of the whine. It's rare on to hear of any tractor having a transmission problem, and HSTs are no exception. They complain, but they seem to be tough. And that's good, because they are really tricky to work on or repair. Good thing failures are rare because not many mechanics feel confident with a HST. Still, from here on out all my loader tractors will have HST.
Frankly I wish that Bobcat you are looking at had their standard 12 speed tranny. Then we wouldn't even be having this transmission conversation. If you do get the Bobcat, the first thing I'd do is change the HST filter and the oil. I'd use a premium trans-hydraulic oil. That's an oil change that can set you back 200/300 dollars!, compare tht with an engine oil & filter change that costs maybe 50/60 dollars.... BTW, you'll do the same on the Banson if you get that one at 50 hours even if it has a standard 12 speed. So either way, you are going to be throwing away a lot of oil to start.
No matter where you live, there is almost sure to be a Bobcat dealer that services your area to support their commercial machines and skid steers. Bobcat is all the same South Korean company, and you need to work up that contact to learn about parts and mechanical service even though they no longer sell new ones. I think in your shoes I would go talk to that Bobcat dealer and get some inside info about these questions that you have. I'd like to know myself. It sounds like the tractor will keep OK for awhile. I'd do some research.
Luck, rScotty