Yes - 1 Horse Power is required to lift 33,000 LBS 1 Foot in 1 minute.... or 1LB 33,000 Feet in 1 Minute. That's how horse power is defined - If you change the Units you have to deal with conversions. The pound is actually a measurement of force, not mass, but here on the surface of the planet the conversions are pretty easy.
Metric Horse power is actually a different unit =/
And Drawbar Horsepower, Brake Horsepower, Net Horsepower, SAE Horsepower... and so on are just different prescriptions for how to make the physical measurements.
And just to clarify, many Higher horsepower Dynamometers use only the Inertia of the drum and calculate torque (Force) and Power ( [Force*Distance]/Time ) even though only the speed of the drum and time is measured. Until a few years ago I had never seen an Eddy Current Dyno that could measure more than 250HP (The kind you find in Emission shop garages mainly) but Dynojet is apparently making some very high capacity Absorption Dynos. When I think Dyno - I think Inertia =)