Yes, we run a hydraulic log splitter from the tractor, and we do the same trick as your farmer. It is absolutely brilliant. We can process huge amounts of wood very quickly for our own log burner at home and certainly much quicker and safer than using an axe! I can't comment on free-standing ones though. We bought a Crofter log splitter on recommendation of the local blacksmith, who makes the splitting blades for the chap who makes them.
