O.K., we've got an MX5000, which has a 50 hp, 4 cylinder diesel engine. As I recall one of the brochures on it showed the torque and power curves. Max torque was at about 1500 rpm. Max power was at about 3000 rpm. PTO speed is at about 2700 rpm, and it's plenty loud at that speed.
A few notes about engines:
You can do as much, or more, damage to an engine overloading it at low speed as you can overrevving it at high speed. I'm not sure it's possible to overrev these engines. Surely the valves aren't going to start floating at 3500 rpm, assuming it would rev that high! (never ran mine wide open). The head mechanic at our local dealership said that when Kubotas get brought in for a rebuild, it's due to low compression, causing them to not start. Everything else is solid. Makes sense to me. For longevity then, barring abuse, lower revs are better than higher revs for the same speed. Just don't bog down the engine.
One of the reasons diesels are more efficient than gas engines is that they have no throttle valve. That's right, they have access to all the air they can get all the time. Throttle settings are governed strictly by fuel input. Because of this a diesel can be more fuel efficient at low throttle settings than its gasoline counterpart. That said, it's my understanding that internal combustion engines are most efficient at maximum torque, assuming you're extracting maximum available power at that speed.
Here's how I run my tractor. At light loading, such as traveling to a destination, I run at low rpms, 1000-1500. I also run at low rpms for delicate loader work at low speeds, since I typically run out of traction long before I run out of power. These are approximations because I use the foot throttle a lot for both applications. For more demanding loader work, seeding, fertilizer spreading and the like, 1800 rpms is excellent on my tractor because it provides a nice buffer under load. If the load goes up and engine speed drops, my max available torque will actually be increasing. In other words, it's a sweet spot. For bush hogging, I run 2200-2500 rpms. Better to gear down if the going gets tough. I very rarely run at PTO speed. I haven't done any real ground engagement yet, but I think I'd stick with 2200-2500 rpms and just gear down if it wasn't enough, though time will tell.