The typical house doesn't need much power so the 3 PT attachment would be fine. However, for most folks the PTO style isn't the best option. It has a lot of limitations.
I'd like to know what you think are limitations to a pto style generator. Mine is trailer mounted and can be powered by my CUT or my diesel lawnmower. I can leave it in-place if I need the tractor for cleaning up a mess which I can't even imagine what that would be. I can take it by car or truck or lawnmower to my neighbors if they need to have emergency power. I can run my welder out in the middle of No Where. Since my barn is on a separate DTE line, I can power up that building a services, too.
Around here, a standby power system is anywhere from $2400 to $5000, and then another $2000 to $3000 to hook it up to gas or propane + permits. My WinPower was $1200 + the transfer switch.
The ONLY drawback I have for my once every 5 years or so power outage is that I am the only one with the knowledge and ability to start up the tractor and I prefer to leave it this way. Besides, you don't need electric power 24/7 at your home anyways, unless you have a heart-lung machine cranking or a waterfall fountain that looks good from the road.
Heck, I have a Honda EU6500IS Inverter sitting in the garage as well as a 2000IS from Costco in the barn, but the one most likely to be enabled during a storm is the tractor powered one.
I would like to know how stable natural gas capacity is, though. Good for a few days, a week, months ? That's where my heat comes from.