The formula GPM x PSI / 1100 is a general formula for basic sizing.
To get optimum performance/long life, you need to know what is the best RPM to run your motor, but you also need to know how much torque is needed to achieve best results. Knowing where your equipment performs on that torque curve can tell you about the design, efficiency and longevity.
Every manufacturer has safety factors and they vary, depending on the design of the components used (it can be 20% or as much as 50%).
If you are running under-power (for the rated capabilities) will your motor RPM drop?
If it doesn't drop you're not under-powering, you may just not be running very efficiently for your motor (you may be at or close to the limits). This would mean shorter motor life, use more fuel, etc.
If your motor RPM drops, so will your pump RPM and GPM's will also drop along with your PSI.
To me knowing about torque and the torque curve is more important than just knowing the HP. Knowing the torque allows me to know what performance I can expect from the equipment.
I can always change pulley combinations on a belt drive to maintain my pump speed but use a lower motor RPM which will also give me higher torque.
That's why I was trying to say that you have to understand your whole system not just one component of it.
I understand not everyone cares or understands, that's why they have general formulas.
I guess I didn't explain it real well initially. Sorry.
Regards,