If the mentioned valves are set correctly, ie both open, and if the 1720 is of similar design to my 1510, then the problem may be what I have experienced. On the lift control handle there is a shaft that goes into the upper cover of the transmission. This shaft is attached to a fork that controls the 3pt lift valve by a spring roll pin. My roll pin broke and the shaft would rotate in the fork instead of actuating the valve. If the lift handle feels normal then this probably is not the problem.
Mike