The original purpose was for the tiller that came mounted on the tractor. I use my tiller mostly in low gear on the PTO, but for making vegetable beds middle range works best. It fluffs the soil up to powder, and lets the bungeed guide wheels hill the soil into perfect beds.
I've used my posthole digger on my YM240 in high gear (1000 PTO RPM) with the tractor running at idle. The dirt here is hard, and the auger bit is small, so there's little load on the tractor. Revving the machine to rated RPM to run in 540 doesn't make sense when I can idle it in high PTO gear and get the same result.
I am going to build a PTO generator from a generator head I have, and will run in high range so I can use more reasonably sized sprockets to get to 3600 RPM at the generator head.