Jeff,

Firstly, I'm not an expert on motors so feel free to treat my
ramblings as suspect. The voltage 'seen' by your saw really is
probably closer to 240v than 220v and 230v is a good conservative
figure to work with in most cases but lets use 220v. 7A @ 220v ==
1540W. At 746W/1hp, your saw can generate a fraction over 2hp in a
perfect world with no losses which of course isn't the case. Again,
we've estimated conservatively so 2hp is the least upper bound (its
probably higher). I can't say whether or not the claim of 1 3/4hp is
correct but it's certainly not impossible.

Jim