Steve- This IS actually your mistake!
The formula you give does NOT represent power, but energy!!
So you have to devide it by time and then get the power...
Look at the units:
mass*9.8 N/kg*meters = kg*N/kg*m=Nm and Nm is just the same as J(oules), so an amount of energy.
Back to your original figures:
1000 kg lifted over 33 m gives an amount of stored energy of 1000*9.8*33=323,400 Nm or J.
If you move this mass down over a periode of 10 hours (=36,000seconds), you get a power of 323,400Nm/36,000sec=8.98 Nm/Sec. And Nm/sec is the same as Watt.
So barely 9 Watts !!!
If the numbers were as you supposed, why do you think the whole world is studying to improve batteries (or other systems) for energy storage? Then the lifted mass system would already have been a much easier and cheaper solution....
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