I take a very sophisticated approach
I run the loco on track power, and see how far I have to turn the controller up to have the loco running at approximate scale speed.
As full power on the hand controller is 18v (I run analogue) then something that uses 3/4 power on the handheld will get and 18v battery pack. Half power, I go for 14.4v and small locos with Como drill type motors run on 9,4v (in one case) or 12v
So far, I haven't had a problem ................. says he hastily clutching the wooden desk
Gearing also plays a part - NiMh batteries don't like to be laboured on high gearing, they're better with a spinning motor on a low gearing (high ratio). If the Earl is like the Baguley diesel, I think it's likely to have a motor with a gearhead, and should be suitably geared.