I started out planning to build a cadtrac. I ended up finding a diesel motor for cheap that was too big for the cadtrac design. I ended up drawing up my own version of something similar, but about twice the size. I enjoyed my build and would do it again. My build is under the skid steer section.
http://machinebuildersnetwork.com/ubbthreads.php?ubb=showflat&Number=310#Post310it's from the old site so it is only the pdf version of the old thread. My machine will do significant work and will lift more than my 4 series john deere tractor. The tractor will pull much more of course. My machine is more maneuverable.
You will need to upsize the plans to use a 50 hp motor I would guess. If you decide to build it I'm sure there would be many here that would want to follow the thread. Take lots of pics...