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So I think Power works as follows:
Work out projected number of HRs using Power, as you've done;
Balls in Play = 350 + AK - projected HRs;
Use BABIP, which tells you the % of balls in play which are hits, to work out the number of hits on Balls in Play, as in my post above;
Add HRs to get total number of hits.
You could use the three ratings (Avoid K, BABIP, Power) to get a formula for Contact, though I think it would be a bit messy. Maybe something I'll look at tomorrow...
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