Hi Eric,
Thought I would add my two cents worth.
I too bought a Chinese tractor - a 2007 Jinma 554 (55hp). It was to replace a MF65 that I had but was a 1959 tractor and while it still worked well, parts were getting to be hard to come by and expensive.
I went with 55hp as I thought it would be enough - I don't think you can have too much hp unless you get ridiculous with it.
The choice for the Jinma was based on reports I could find and parts availability - I live in Canada and there can be problems. I recently tried to buy some parts out of the USA and was charged a certain price and was told one week delivery if I used UPS. Well, that turned out to be a real crock of sh*t and nearly seven weeks later, UPS phoned to tell me about a parcel of tractor part for delivery !!! After two weeks of no parts I re-ordered through a company in eastern Canada - who had to order the part direct from China, air freight it to Ontario and then send the complete order to me by Canada Post. This order was delivered within two weeks of first placing the order and at about 40% of what the US company would have cost me. I cancelled the first order and now the parts supplier and UPS have to sort out their expenses - ha , that should teach 'em !
The point of this story is to say that getting parts from China may not be bad at all. For me it was much faster than shipping from the USA and 40% of the cost.
The tractor with the FEL was perhaps 35% of what I would have paid for a new 55hp big name tractor (Ford, JD, MF etc). Sure I have had a few problems but nothing catastrophic that I couldn't handle. You can import yourself easier in Australia I think, than in Canada. I ordered through an importer (Chinese Canadian) and did quite well I feel. It came as a crated tractor and I assembled it myself - easy to do if you are mechanically inclined. But, as in anything you buy you do take some risk. I had reason to contact the Jinma factory and found them easy and pleasant to deal with.
How does this apply to Luzhong tractors - it doesn't really, but the lessons learned do.
If you feel happy about the Luzhong models, go for it. It might be worth looking at other major brands too like Foton, Dongfeng, ,Kama etc. Each make has good and not so good points and I think for the most part, the later tractors are better quality than the earlier ones.
By the way, I got $4500 in a quick sale for my old MF65 with a FEL and TPH (could have held out for $5,000). The new Jinma with the FEL and TPH cost me around $14,000 US in 2007. I would say that is a fair price - they most likely would be more expensive now.
HTH - good luck with whatever make you decide to go with.
Cheers
Jim