Yes, should be a decent match just pick a gear that gives you the optimum travel speed for your property. My best guess is between 1.25 to 1.5 mph with this setup.
I have a 2011 JD M5055 and I pull a 7' Frontier tiller. I pull in low 2nd or low 3rd depending on the terrain. I've been tilling at 5" deep and it works great.
It will lug the engine a lot. I've got the same engine as you have in my L5040. I just tilled about a hour yesterday with my new Kuhn EL 62 210 tiller. Its 83 inches endplate to endplate. It would lug the RPMs on my PTO from about 525 to 490 and I didn't have it set to till but about 5 inches deep. I was tilling previously tilled ground also. Engine didn't smoke but it was grunting. I would have liked to have got the 72 inch tiller but the dealer had this one on his lot and was ready to deal so that is the one I traded for. Its rated as 42 HP minimum and my Kubota is 44 HP at the PTO. It will work for me and for what I wanted to do but the 72 inch would be a much better fit for my tractor. I'm pretty amazed as this tractor handed the JD 660 tiller (63 inches end to end) and would only lose about 8 to 10 RPM on the PTO rpm tilling very deep. The rotor diameter is the same on both my tillers. I had thought with the Kuhn just being 20 inches wider and C tines and side gear drive that it would handle it better than it does. Soil here is pretty light loam with some fist sized rocks scattered around.