We use Honda Ranchers year around at work and they are good in the mud, snow and cold. I haven't used that model Polaris, but we have a 1994 Sportsman 400 Polaris that has been a real workhorse.
Higher ground clearance is a two-edged sword. Some of the bigger ATVs we have sit higher but are less stable side to side. I prefer my butt closer to the ground in the rough stuff. Ground clearance hasn't been a problem with the Ranchers. Also, the Ranchers, which are all 4wd, handle a foot to a foot and a half of snow easily enough. If you routinely ride in snow deeper than that, probably a snowmobile might be a better choice than an ATV.
I would not buy a new ATV without EFI and a water-cooled engine.
That said, I have been impressed enough with the Ranchers we use at work that I just bought myself one.