A general comment on mulching.
I used to mulch, but now I prefer the side discharge.
As the previous poster said, it is tough to get good results when cutting overgrown or wet grass with a mulcher.
With the side-discharge, if the grass gets out of hand, I cut it in a back and forth pattern that doesn't re-cut the discharge too much and puts the windrows from alternating rows together. I then go back over the windrows with the deck raised a half-setting number in a second pass. It chews them and sprays them around some more, and they are mostly gone after that. The second pass is less than half the number of trips over the lawn, only in the areas that need it, and you can go pretty fast.
With a mulcher, when the grass grows too much and gets out of hand, you would be stuck cutting the entire lawn twice at normal mowing speed at two different settings to catch back up.
Like he said, if you can cut the grass twice a week and are flexible enough to work around rainy days, mulching might be the right choice.
If you have to skip a week now and then, or can only mow on a certain day of the week and it rains on that day 40% of the time where you live, maybe side-discharge is a better choice.
Just my $0.02 thought.
- Rick