Ok....let's see...offering any opinion on an unknown specific tractor that's 20 years old and has that many hours is probably something best avoided. But avoiding it doesn't help anyone, so here goes.
First of all, about myself - I'm an older guy who enjoys mechanical things and have owned many. When I go looking something like a tractor, car, truck, or tools, I always start by looking for good used older ones. I do buy new, but prefer used. I definitely do not ever want a rebuild project, but do not mind doing small repairs.
I'm assuming that personal description applies to you as well, and that you are also comfortable hand tools, basic electrics, and shop manuals. And tht you already have a volt/ohm meter that you often use at home and in your shop for troubleshooting, some tools, and maybe some pressure gauges and such.
OR, equally important, maybe you want to put in the time to learn all these things....
Be honest, because if that description doesn't fit, then you'd best walk away from an older tractor no matter how nice it looks.
I actually considered buying a new JD 4610 back in 2006, and have followed them a little bit sinse then. My impressio is that they are a decent tractor without any design problems. Yanmar built them for JD, and Yanmar is known for quality, Older tractors are all about how they are treated. The 4000 hours wouldn't immediately worry me, but it sure would make me step back and consider the overall condition carefully. In people terms, 4000 hours on something as nice as an older JD is certainly mature - but not yet too old. Most homeowners use their tractors about 100 hrs a year for chores....more if mowing acreage.
If you would post some pictures, we might spot some areas of interest.
As you walk up, look under it. Some grease and oil where around shafts is common, but look carefully under where it sat last night for any oil puddles. Look for oil on the inside of the front tires, the front/rear of the engine, and the rear axles. An older tractor will suffer from leaky seals long before it suffers from engine/tranny wear. Tractor engines and transmissions can easily go 4000 hours. The things that require attention are more likely to be electrical or accessory systems like hydraulics or brakes. Put your flashlight on the clear fuel filter to see if it has water or crud in it.
Always ask why he is selling it. I've found that people are honest when given a chance. How are his other machines? In good shape? It's always a good sign when an owner has manuals and records..
A diesel engine shows it's age first by becoming harder to start when cold. Ask to see it start from cold on a cool morning. It should start ok at 50 degrees, but the best you can hope for around freezing is if it will fire off after 5/10 seconds of cranking, stumble and smoke for that much longer, and then smooth right out to a high idle.
The simple test for a transmission is if it engages and drives smoothly in Forward & Reverse.
The PTO should engage and turn with just a rumbling sound if any. The 3pt should go up and down smoothly.
Expect that power steering and any hydraulics will take half a minute to warm up. Some older hydraulic pumps will whine while cold. but once warm should work smoothly without any overly loud whining noises.
That's enough to get you started. Do a search on JD 4610 around this TBN site for JD 4610 info and see what you find. Ask lots of questions.
Good hunting,
rScotty