Was already on the power factor thing. Given no power factor data on the motor and not being able to tear the motor apart or get near enough to it to get a good look at it I don't know what its construction is (tech support is less than spectacular from the fan/motor manufacturer). Brought this up with the folks who manufacture the fan and this is what prompted their response on efficiency being relative. Didn't really care to go into it with them or bring it up here. So, for a time I assumed worst case, which is a power factor of 1 and thus the 0.5HP thing previously.
After sleeping on it and taking a leap of faith, by the numbers, their power factor is ~0.2428 (inv cos = ~76° angle between current and voltage). Although, I can't determine leading vs. lagging with my low end equipment, it is likely lagging as their motor "appears" at a distance to be purely a winding (a.k.a. an inductor, as I don't see any typical housings for capacitors and the like) as far as I can see. Since a perfectly inductive circuit will have the current lag the voltage by 90°, then when one figures in the impedance of the various components, it knocks off the 90° by some amount which accounts for everything we are seeing here, in my opinion.
So, what they have is a somewhat inefficient 1/8 HP motor which has an inrush that my eyeball can catch on the meter of between 4-4.5A (obviously higher in that first cycle depending on where in the voltage cycle it hits). A capacitor would bring the power factor back closer to 1 but who cares about such small motors, right.
My concern here was three-fold. One was to make sure that I wasn't going to burn my house down by overloading an AM466 appliance module. Two was not to destroy a perfectly good appliance module as there is no sesne in that. The third, and a bit more insidious, is running such loads through the appliance module for hours on end in an environment which is well above 100°F (up in an attic). Kind of a double whammy and I apologize for not mentioning the ambient temperature thing before as I was attacking one thing at a time.
Electrically speaking, I think the appliance module will work for me assuming the "Motor Load" rating of the module takes into account a motor the likes of which I am using (largely, purely inductive, anyone have any insider information on this?). This being said, the ambient temperature issue is another matter entirely and I am working that angle as we speak.