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You wanted to know how to calculate the output. It is fairly simple to do if you have the reference books etc. You also changed from a two cylinder design to a 4 cylinder two stage compressor.
You can run it but don't set the cutout for more than 150 PSIG. That 10 HP motor will probably be getting fairly hot if you run it very long at those power levels. Do you intend to use it around the shop for limited blasting or are you looking at some large project to do or commercial type work?
Gasoline engines produce fairly high peak HP but they don't do well at producing continuous HP. A car or light truck engine may have more HP than the diesel in a tractor or Semi but they wouldn't be able to pull a 80,000# load up a grade. They would get part way up and explode or melt down when some part got too hot.
A comp hooked to that engine will easily run that little blaster, but whether that engine will run that compressor is another matter. That is the point Eric is trying to make. You probably dont have an owners manual to the comp with the displacement info? It would save trying to calculate all of it from scratch. As he also eluded to you need a pump with head unloaders, an unloader valve and a throttle control to make this work right although I thought possibly an electric clutch/pressure switch may possibly work too. There is a fair amount of design work to building a gas air comp setup that works.