First, measure the voltage that the wire coming out of the flywheel coil for the heaters produces while the heaters are hooked up and turned on and the saw is at cutting RPM. Set the meter to Volts and AC, then connect one lead to the saw motor case (ground) and the other lead to the wire that comes out of the flywheel coil . Next, disconnect the flywheel coil wire from the heaters and set the meter to read Ohms. Touch the two meter leads together and look at what the meter reads. With low value resistances, the meter leads themselves can contribute a sizeable error (something in the range of 0.1 to 0.5 Ohms). Then connect one meter lead to ground once again and the other lead to the wire that goes to the heaters. For this measurement, the saw isn't running, but make sure that the heater switch is on. After you get this reading, subtract the shorted meter leads number from above to get the heater elements' true resistance.
Use the following equation to calculate the power that the heaters require from the motor:
Power = (Voltage)^2/(Resistance)
In other words:
Power equals voltage squared divided by resistance
Figured this way, the units for power will be in Watts.
Then, converting Watts to Horsepower:
1 Horspower = 746 Watts, so the equivalent HP would be what you figure for Power above divided by 746.
Example:
Let's say your first measurement from above yields a meter reading of 10 Volts. You then measure the heater resistance and it is 5 Ohms. The equation would then be:
(10)^2/(5) =100/5= 20 Watts.
Then to convert to HP:
20/746= .03 HP.
I have no idea what your actual readings will be as the above is just an example, but I can say that 20 Watts would provide reasonable heat. A 100 Watt bulb gives up much of it's energy in heat and they're too hot to touch. If 20 Watts is taking .03 HP from your saw motor, I'd say that any power used for heating grips would likely have almost no impact on saw performance.