Hi Mike B, welcome to OCC.
First things first, the Rear PTO was only available on gear drive Cub Cadets, they did turn the wrong direction for most practical applications and they turned at 514 rpm.
There are those however who mistakenly call a 90 degree gearbox (mounted on the back of a Cub Cadet) a rear pto. The 90 degree gear box was primarily used for driving a rotary tiller. You may want to do a little research on that and see what other things people have used them for (I personally can't think of any other manufactured attachments that were driven by a rear mounted 90 degree gear box).
Yes, a 1650 trans-axle will fit into your 129 but once again the 1650 is a hydrostatic drive tractor and there is no rear PTO for a hydro drive tractor.
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