I have the Toro Bagger on my 52" Z I have the 74442 model which I believe is same as your unit but with a 52".
The unit works great with dry conditions. Easy on/off when not needed. I just leave the bags on and disconnect the blower and tube when not needed.
Downside - I am not satisfied with performance when the grass or leaves have alot of moisture. It is more than likely that I do not have enough horsepower. My mower bogs down very easily when going thru thick, wet grass when bagging and the blower unit plugs very easily. I dont have any experience with any other baggers but I give the Toro bagger a neutral mark.
Not 100% satisfied, but not completely dissatisfied.
I demoed a toro z500 two seasons ago and it had the 3 bag collection system on it from toro. It worked pretty good, just like any other company's collection system. The only thing that I didn't like about it was when I took the blower off to discharge, the belt on the blower would always come off, so when I went to hook it back up I would have to put the belt back on the blower, which was time consuming.