I have a 595 and most of my 130+ hours have been with the FEL on the tractor. With regards to the 3PH dropping, I have found that if you are careful on how far you move the lever the 3PH will not drop. I have also noticed that unless I am doing heavy lifting, rear ballast is usually not required. That being said, if you chose to not use ballast, be prepared for a wild ride at times. The important thing is to know what you are getting your self into before you start. If in doubt, error on the safety side. These "little" tractors can and will do some impressive amounts of work.
I will never forget the day my dealer decided to stop by on his way home from work. I was in the middle of digging a drainage ditch that was the width of my tractor, three feet deep and just over 100 foot long. I was almost done when he showed up. He got out of his truck shaking his head in disbelief and said " Most people just use those to mow their lawn with!".