There IS a difference between these two machines. Trust me on this: I have owned or operated almost every JD compact out today. The 3520 is some more powerful than a 3320, but a 3720 is much more powerful than a 3520. On flat ground, the difference is not that notable but where I live separates the pretenders from the contenders and it is a notable difference between the two. Pushing, pulling, etc., the 3720 gets to speed quicker and maintains speed better. It can handle more auxillary weight, which also helps. As for the question about the 4120, I have the following response: I have owned a 4520 which I really liked. It had a great loader, and a lot of power. I liked its ride and stability better than my current 3720. I think the 4120 shares these traits, but it does not have the torque/weight ratio of the 4520. This hurts it a lot on steep hills, especially with the hydro tranny. Our original poster most likely is aware that the 4000 series machines have a higher lift loader and can accept some larger attachments, not from an ability but a stability perspective. But I am sure he is also aware, as am I, that those machines take up more room in garage or building, are harder to haul around and can compress grass, etc. There are places on my property that I could not or would not go with my 4520 that are accessable with the 3720. I also like the somewhat lighter weight for hauling and when working on grass, where there is a good deal difference in ground compaction. I believe his question centers around whether a 3720 is worth the extra money. I suppose that depends; if one is doing mostly hydraulic work or light to moderate ground engagement work on flatter ground, the 3720 is overkill and a lower powered machine would be fine. But if one wants to do PTO work such as heavy brushcutting or has heavier ground engagement work that involves hills, etc or lots of "c" range tranport work when loaded, there is no substitute for the 3720's power in the mid-frame line.
John M