I've only had my 407 for a month now, but initial impressions are pretty good.
Back in '07, I bought a MF 1540 Powershuttle. It was a GREAT tractor. Best tractor I had ever used, bar none. Then the economy crapped out and I had to sell it in '09. Four years later I bought a 1643 Hydro and it was a good tractor, but two things always bugged me about it: the hydro transmission was loud and weak in the two upper ranges...and the loader was jerky and too fast. It was dangerous to use, really.
I've been needing a bigger machine for a while and I'm more of a gear guy, so I traded the 1643 for the 4707 and the FL3615 loader. This is a lot of tractor. Maybe not to guys out west, but for around here, it's pretty big. I'm still trying to adjust to the size of it. We've got a 125 acre farm and I don't see any job being too much for this tractor.
I ended up getting the 12x12, not the Dyna transmission. I wouldn't have minded 1st gear being slower, but I'll live with it. Also, with a "deluxe" cab, I would think a cell phone holder would be standard, but there's no holder in this cab. Someone else has a 2850 with the deluxe cab it came with a cell phone holder. So far, those are the only two misgivings I have with it.
Massey seems to have really put a lot of effort into the 4700 series, because this is a very good looking tractor that has quite a bit of weight to it and appears to be well designed and well built. Did I mention that I really like the loader? It's exceptionally smooth and it helped seal the deal for me.