For pulling things like boats short distances the 3pt hitch is excellent. My boat has a tandem trailer, and the wheels scuff when turning. The 3pt lets me lift it high, which unweights the front wheels on the trailer enough to not scuff. Also puts a lot of down weight on the rear of the B2601, which helps with traction.
On a tandem trailer you can't really get tail heavy, so tipping up is unlikely. On a single axle trailer you'd want to be more careful. You also need to be careful not to pull hard from too high above the rear axle. With the 3pt hitch all the way up your centre of pull is well above the axle, so if you reverse then stop suddenly (say, backing into the boat ramp.....) then you can pop your front wheels into the air. Same again pulling out - with the 3pt hitch all the way up you can pop the front wheels. You need to be careful and know what you're doing.
Conversely, I can back up to the trailer, drop the 3pt, back under, lift it again, and I'm away. For moving things quickly (maybe you need to mow under them) it's brilliant.