This is what I do. Seems a little more versatile than a 2" receiver hitch for my purposes. If I'm pulling out bushes/shrubs/small trees/stumps, I use the clevis. If pulling the boat trailer or utility trailer, then I use the appropriate hitch ball on the 3 pt.
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I use something similar with my BX. One possible issue is that the 3PH does not apply down pressure, and in my case there is the chance my dump trailer could cause the 3PH to lift, and I would end up pulling from a point above the center of the rear axle. Has not been a problem, but could be.
I tend to load the trailer so I get ample tongue pressure. Trailer is 5x8.
The other side of the coin is once in position to dump, I can raise the 3PH and get a bit more favorable angle of the dump bed.