In most of the hydraulic categories (pump flow, loader lift weight, 3 pt lift weight, loader lift height) The 3720 does around 75% or less than the 4120 (note that the 4120 does the same as the 4720 in these areas). That is not what I would call "nearly the same capabilities". I would call that a BIG difference in favor of the 4120. That will make the difference in safely handleing a round bale on a loader mounted bale spear, or loading a tandem dump truck. These big jobs are beyond the 3720's limits but can be safely done with the 4120. The 3720's smaller size is an advantage in tight places or if you need to trailer with small equipment. Without these constraints, the 4120 wins, no contest.