By your own definition HP is time-valued. Therefore HP is not work, it is work done over some time span. We see this in the calculation for HP; take the amount of work that can be done (torque) and multiply it by time (Revolutions Per Minute).
Horsepower (hp) is the name of several units of measurement of power, the rate at which work is done.
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http://en.wikipedia.org/wiki/Horsepower
http://auto.howstuffworks.com/horsepower.htm