To me you really need to consider all your options and what you plan to do with it before deciding which one will be the best fit. We recently started a project to replace over 200 acres of 40 year old fence. Needless to say, we have some clearing to do and I have been looking at used excavators for a few months now. Not really at mini excavators but rather a small full size machine, something in the 30,000 lbs range. Since my knowledge on excavators is just enough to get me into trouble, I asked a very good friend of mine who has many years of experience working with construction equipment to help me look for one.
From the start he was pushing me toward a 4x4 backhoe (rubber tire as we call them) over an excavator simple for its versatility. I wasn't sold on the idea, but as he pointed out, it won't be as fast as an excavator, but in the long run it will be a better all-around fit for farm use. After looking at several excavators that we both agreed weren't worth the asking price, I ran across a pretty good deal on a Case 580 backhoe (4x4). Still not convinced it was the best idea, I decided to give it a try since I already have a NH SL190 Skid Steer loader (which is a large machine)and I was thinking the two might be a good fit.
So far we have cleared about 3,000 of pretty bad fence and I have to say that I'm impressed with what the 4X4 backhoe will do by itself, but when paired with the SS it really makes things go faster. Now, there's no way it's going to out dig or perform a 30,000 lbs excavator for what we are doing, but when you consider the cost advantage, it does the job nicely. It was also really nice that I could just drive it down the road to complete a few small jobs that I wanted to do and drive it back within an hour.
I still would like to have a small excavator and if the right one at the right price where to come my way I would jump on it, but I don't think the backhoe is going anywhere. I'm satisfied.