PZ..., the Jubilee had a 134 cu. in. engine and it's advertised 31 hp was rated at only 2,000 rpm. At 2,400 or above that hp is probably closer to 35. That's why many people say it was underrated. I've checked the Repair Manual on the Class III Boomers and I can't find engine torque specs on the Boomers. I can tell you that the engines are rated at 2600 rpm. The PTO speed is only 2400 rpm, so the NH tractors are not running at full hp when you run them at 540 rpm.
I think you'll find these little diesel engines with much lower cu. in. sizes produce plenty of torque to spin the tires. Consider this, the Jubilee weighed only about 2500 lb. The TC 35DA is about 3000 lb and the 40DA and 45DA about 200 lb more. With loaded R4 tires, you can add another 800 lb. Put a loader on and you are up over 5000 lb. Easily, that is double the weight of the Jubilee. With MFWD, that means you will get all the torque your engine can produce to the ground. I can guarantee you that the new TCs will outpull the Jubilee with either R4 or R1 tires. My Jubilee will spin the rear tires long before the engine runs out of torque. The new tractors get all your power to the ground much more effeciently because of MFWD and weight.
Your choice of gear or hydro transmissions is best determined by whether you intend to do a lot of tillage. The best tillage machine will be gear and the better loader, boxblade, and possibly mowing machine will be the hydrostatic transmission.
There are some who would say that the TC35 is underpowered for the weight of the tractor. Frankly, I don't know because I've been spoiled by my TC45D. I've never operated a TC35, so you'd have to talk to someone who owns one.
Let's find out what model Ford tractor you have. /forums/images/graemlins/cool.gif
Ford only built the 1953 Golden Jubilee and the 1954 Jubilee. Only the 1953 model was called "Golden." If your tractor is a Jubilee (NAA), it was probably a 1954 model sold to your GFIL in 1956. I'm attaching a partial blow-up of your picture of the tractor. I've placed a green arrow showing exactly where the tractor model and serial number are engraved into the transmission case. It's directly behind the starter motor. There is a flat area that has a curved lip about 1/2" high. On the front of that lip is where you look. Many tractors have been painted so many times it is hard to see. You might have to scrape off a little paint to see the numbers. Jubilee serial numbers started with "NAA" followed by the number (1953: 1 thru 77474, 1954 starts at 77475). Let us know what you find. /forums/images/graemlins/smile.gif