I would go for the reciever hitch. It's much handier than a ball on the bumper. As far as the brakes, I wouldn't worry too much about them for a little two horse trailer and even two horses. Just make sure you engage your brain when you drive and slow down. I've pulled many hundreds of miles without trailer brakes and as long as you give yourself time to slow down you'll get along fine. Trailer brakes will make it easier on your vehicle though and if you pull often you should think about it.
There's nothing like the Rockies in the springtime... Nothing like the freedom in the air... And there ain't nothing better than draggin calves to the fire and there's nothing like the smell of burning hair. -Brenn Hill