We had a red belly for years on a farm I worked on. It was always a good tractor, and everything I"ve heard is that the black bellys are the better ones to have.
If I remember right the black belly has a side console shifter, which is alot nicer for getting in and out of the tractor. Those cabs are kinda tight if you are a bigger guy, and having that shft lever between your legs is kindof a pain. Alot of them still around tho, so that is a good sign.
Someone else can give you better advice about the particulars of motor,trans,rearend stuff, but if I were looking for a tractor in that size range, I wouldnt be afraid of one.
Only thing is, if you were looking for a 1086, you gotta be giving up a few ponies going to a 7000. But, you know what you can get by with and what you are using it for. Good luck BW
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Today's Featured Article - Madison's County - by Anthony West. Philip Madison has been a good friend of mine for quite some time. He has patiently suffered my incessant chit chat on the subject of tractors for longer than I care to remember, and on many occasions he has put himself out, dropped what ever it was he was doing, to come and lend a hand cranking handles, or loading a find onto a trailer. Although he himself has never actually owned or restored a tractor, he was always enthusiastic and always around helping with other peoples projects.
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