1) It does cost less no doubt about that.
2) I question this one. I have the 55 Hydro and I mow 10 acres of a pecan orchard. I go around every tree (250 of them). When I am in a row of trees nothing beats the hydro for slowing down to go around them accurately and then speed up to the next one. On a geared tractor I would have to choose a speed slow enough to turn sharp but it would be too slow in between them. I would not shift every time between trees. When I am in between trees I go as fast as I want.
3) Hydro has infinite speed selection from stopped to as fast as the range will allow. Mid range will go faster than you want to mow at PTO rpms.
In open field I like to use the cruise with load sensing. If I get into really tall tough mowing then the tractor automatically slows the travel speed and then speeds back up to my preset cruise setting once the engine unloads. Pretty cool feature I recently discovered. On my geared tractors once the going gets tough I am clutching and down shifting under full rpm (not good for the clutch) but then I have to guess when to up shift (again under full rpm). Like the other posters I can't image what a gear tractor could do better than the Hydro other than the $2,000. But I know you can't beat the hydro when it comes to grapple work for the fine positioning it takes to pick something up.