OK, I messed up last night.
The second formula is false, the 1st and third are true...
Basically, regardless of the torque figure, when all things are equal, the same HP measurement can be taken at the drive side, or the driven side, less frictional losses.
I read up a little bit again last night on that math in one of my old science books.
soD, you were right about that. My apologies.
Edited post accordingly.
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