We have a 7120 and a 7210.  I'd say it will probably do what you want.  I only hedge because I have learned in different areas people have differing horsepower requirements.  We pulled a 28 ft 490 disk with our 2WD 7120 in the fall with no problem.  In the Spring in looser soil it was all the tractor could handle and maybe a bit more at times. I'd say a 25 ft disk would be just about right.

We have a J&M grain cart about the same size you are talking.  It handles it well... most of the time.  In soft conditions we switch to the 8630 JD because of traction.

Problems .... not may off the top of my head.  The fuel shut off solenoid was a problem, but that is an easy fix if it quits.  Tie a baling wire to the arm and pull it to kill the tractor until it gets replaced.  In high humidity conditions don't run the cab air fan full blast or it will drip on you.  Nit-picky stuff.

The biggest problem with a 2WD 7120 (and this may be a soils issue as well) is it's near the end of your traction unless you keep good tires and a lot of weight on it.  We used our on a 30 ft drill.  It has the horses, but not enough traction.  Son in law switched the drill to the old 8630 JD and just loves how it handles it. I think if it were a FWA tractor we would get more use from it.