In my always-humble opinion, a SWAG is the best you'll ever do -- after that, it's tweaking and tuning to get everything right. RPM differences, vibration level differences and what that lets you leave out of the airframe, steadiness of power, etc., etc. -- these are all going to make exact comparisons impossible.
The important thing, in my mind, is something that's good enough to give someone confidence that they can buy motor, ESC, battery and timer, and at least have an airplane that'll do the pattern reasonably well. I can't imagine not having to take any new thing and change stuff around to get it altogether right.
If you're not already doing it I would suggest that you slant things toward a heftier electric motor than you think is really absolutely necessary -- it's always easier to back off parts of an installation than it is to beef them up, and after someone gets mileage on the whole electric thing they're going to know what they like anyway.
And what's the matter with gears? Just run a tube from the muffler to the gearbox so that you get adequate lubrication, and -- uh, wait...