Splitters are hydraulically operated on tractors. Tractor hydruallic flows are low. Better a 110 volt or faster 220 volt electric/hydraullic splitter; simpler, cheaper.
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PTO Chippers are fine year one. Year two and later too much maintenance. Always hazardous. Most "chippers" convert to "burners". My history. I had a high end Wallenstein.
Chippers work a little better with a single type of wood, for which the blade(s) can be optimally adjusted. Christmas tree farmers like them better than residential users.
My
L3560 has 28 PTO horsepower. Not enough PTO power to make chipping attractive relative to burning.