Not sure if I am of any use - I know next to nothing about machines, but own two wheelers and one sled.
I bought my wheeler (no tracks) after a day of ice fishing at Strawberry and seeing others have far better range than me on foot. This was in 1995 and 4wd options were scarce.
My biggest thought was why buy a sled when I could only use it a few months out of the year. Wheeler I could use year round.
Took the wheeler out a few times...then never again. I spent more time getting it unstuck.
Several years later I bought a snowmobile (again, knowing nothing about them) that was a 2 person trail sled. To me, a sled was a sled. I had it for 2 years and then sold it because it was horrible for powder and slush. Weighed a ton and it was a a burden.
A few years after that I bought another sled. This time it was smaller, lighter. and easier to handle. The track on it though was smaller, likely made for trails, and again....I spent time digging it out of slush and deeper snow on the lake. Sold it and said I would not buy another.
The only reason I've ever had a sled was for ice fishing.....not really a recreational rider.
4 years ago I had a friend selling his sled. It was more for the recreational rider in deep powder, etc. The track was very aggressive (3+inch paddles....do you call them paddles?). And I thought - okay, that thing should be able to do what I want it to. So I bought it.
It is a 2003 Polaris RMK 800 Vertical Edge and it is awesome. Have taken it out many times and never once been stuck. Fast, light, and easy for one guy to load and handle (since I usually fish alone). Love it.
I also have a friend who has a side-by-side and a wheeler that he has put the tracks on. When we have fished together...me on my sled, him with his tracked vehicle....I have had to help him get un-stuck a few times.....not real bad.
For me - I'll keep my wheelers out of the powder and slush and stick with a sled. Its worth storing and maintaining for the summer to have the confidence of knowing that it will do what I want it to and the chances of me getting into trouble are less.
Oh - and I use the same trailer for all machines. Fits two wheelers or one sled and has a ramp.
Just my two cents