I once saw my boss, from WVa, driving a skid loader and in a hurry to load some barn beams on a truck. This worthy individual, thinking himself smart, used mountain engineering to decide that if he headed down the barn bank toward the truck with a load of beams on the forks, raised the forks as he approached the truck, then slowed quickly, the beams would neatly slide off the forks and onto the truck. It worked, sort of, 'til he slowed too early while raising the forks a bit too late, tipped the thing on it's nose and put a fork into one of the truck tires. /forums/images/graemlins/blush.gif
If you work on hills with a loader, the back end gets very light going downhill. It won't go clear over because the loader will hit the ground, but you really won't enjoy the experience a whole lot with the rears up in the air.
For pulling any kind of load, connecting higher on the tractor puts the rearward force above the axle center rather than below it. Torque on the rear wheels tends to rotate the tractor around the rears, lifting the front. Watch a tractor pull sometime. Even with the weight hitched low, the front comes up in a hurry. The guys who are good actually use the up and down motion of the front to assist in getting some extra momentum to the sled. If you hitch high, you just add to the forces acting to rotate the tractor around the rear axle. With a 3 point, the lower links act as a pivot point for the resistance of the load most of the time, causing a force on the upper link in the forward direction, opposite the force of rotation caused by engine torque on the wheels, but ONLY if the load is below the lower links, as in a properly set up plow, box blade, etc. With a heavy object lifted clear of the ground, the front can come up easily. Depending on the design of the implement, it can impart a force either forward or rearward on the top link. A plow can tend to dig itself into the ground, pulling backward on the top link, but a box blade will tend to push on the top link as the load on the bottom of the blade increases.