There is a very good study by Ontario Ministry of Agriculture on the use and set-up of PTO powered generators available here:
It addresses your specific question near the end.
Short summary: following a long term power outage (ice storm), many farms burned out motors, etc. running on PTO generators. It's not all about available wattage and horsepower. Frequency and voltage are critical and depend on RPM.
Running the PTO in high gear a low engine rpm magnifies frequency and voltage fluctuations. Even a modern tractor with "economy" setting produced unacceptable variations.
Very good info here.