I am not familiar with the model number of plough that you listed, but in general a 3 point mounted plow will increase traction to the back of the tractor as compared to a tow type plow.
That was the brilliance of the Ferguson 3-pt system. Typically a tractor will need to weigh in the neighborhood of 5000 lbs to pull a traditional 2 bottom tow type plough. The 3 pt system allows a tractor that only weighs 2500 lbs to pull the same size 3-pt mounted plow. That was a big deal during WWII when steel was rationed and in short supply due to the war. In comparison 2 tractors could be built with same amount of steel to help feed the world instead of only 1 tractor. Of course later we found out the 3-pt was useful for other things too (blades, boxblades, scoops, post hole diggers, etc.)
I have no idea how your 550 will due on a tow type plough.
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