Thank you for your input!
What's interesting, there was no other water demands. I took a shower, but then we weren't using any other water, outside of the wash machine and sink. Also, we've had a ton of rain here in NC, more than usual, and I've never had any issues with the well recovering - even when my gorgeous wife leaves the hose on when filling troughs haha!
I'm guessing that it's probably more than a 1/2hp pump too. The old Frank Electric box was gutted and I found a ton of old stuff - switches, drain valve, pressure relief - buried in the crawl space. My guess is that over the years, someone didn't clean up after them selves and was too lazy to remove the box after the pump was replaced. So I guess the replacement is better than the old (potentially) 1/2 HP pump.
I've attached the placard that I found by the well head. It says 2 GPM, but I think it's much higher than that.
I'm going to test this now and will let you know.
Sanity check on how I'm going to test:
I'll wait for the tank to completely fill up. I'll turn on the drain valve, measure the amount I catch until it kicks on the pump at 40 psi, turn the valve off, and time how long it takes to kick off. So lets say I capture 7 gallons of water, in 45 seconds, it would be 7/ 45=.15555 * 60 = 9.33 GPM. This all sound right? Or any suggestions on a better way?
Thanks!