I'll tell you, that's a hard question to answer.
Auto's behave strangely on the dyno. I've run cars on the dyno that can't seem to make the power they should, and then you take them to the track and the trap speeds tell a different story.
For stock cars it's pretty consistent. However, once you start pushing a slushbox, things sometimes get wierd. I've seen cars that can flash through the converter on every pass on the dyno, yet don't have a problem on the track.
And as for percentages, it works, as a "ballparK" estimate, it's not scientific.
I'll give you an example, my drag car from two seasons ago.
She never made more than 1200 RWHP on the dyno, and it was a bitch to get it to read that.
The cars best trap speed was 189 MPH in the 1/4.
Do the math.
If you consider the following axiomatic:
then you will see that in order to obtain that trap speed, you'd have to put down northwards of 1528 horsepower.
Do a 20% drivetrain loss on that number, what do you come up with?
1222.4 HP - almost exactly what she read on the dyno.
These estimates have been around for years, and they are pretty damned accurate in my experience.