Not sure on the hp but not many. The Wd is rated at 26hp pto but dang near 40 belt and I am not sure of the engine hp to be honest but I think it is close to forty. When the WD45 came out I believe that meant 45hp. I suspect the reason the pto is so much lower is because even though it is a 540pto it achieves that rpm at 1/4 -1/2 throttle, well out of the power curve. I don’t think the standards were that tight in 53.
The 2038r never works even a little running it. I was really more concerned about it pulling it and the wagon but that was not a problem either. My picker is a 1966 new idea and while the manual says you can run it 3 miles an hour corn yields today are much higher than they were then. It runs best at a full 540 rpm and 1 mile an hour, even then sometimes you have to slow up or stop to let the elevator keep up and that is why the hydrostatic is so much nicer than a hand clutch.
Hope that helps.