I sure wouldn't want a bucket that went level as soon as it was lifted and stayed there. All the material would be falling out of the bucket, making it useless as a loader.
With a parallelogram linkage, it would'nt really be self-"leveling," but maintain whatever angle you want as they are raised. It would still have the curl cylinders as part of the linkage. If you scoop, curl bucket to 45 degrees, then lift, the bucket stays at 45 degrees during the lift to full height. It doesn't tilt back and dump the load on your hood like a non-self-leveling could.
Most "self leveling" loaders have a modified linkage like this one, so the bucket does not tilt as much as it is raised, but does tilt some.
Some diagrams and photo in another thread:
http://www.tractorbynet.com/forums/attachments/163882-self-leveling-loaders-2.html#post1883321
It can be done hydraulically instead of mechanically, too.
From, near the page bottom:
http://www.loaders.com/aspx/WhyWestendorf/WhyWestendorf.aspx
View attachment 280322
Enhance your loader's productivity with this new self-leveling valve. This economical solution is available on most Westendorf loaders. This feature automatically keeps the bucket level as it is being raised. This valve eliminates the operator leveling function, which reduces operator fatigue and leads to greater productivity. Level Up Advantage turns every operator into a pro and helps prevent spillage.
In operation, the valve directs a portion of the exhaust oil from the lift cylinder to the bucket cylinder for automatic leveling. The valve works well with a wide range of equipment attachment applications including buckets, bale spears, forklifts, and booms.
Bruce