Cecil.
My evil plan is simple.
I'll fill the bottle with water, turn it up side down, and place it in my IBC with the air leads inside. I will then set it to the depth I want to test and turn on the air pump and time. The beauty of this plan is that I can test it at several depths and know how the pump is doing at those depths.
And just so Bill D. does not cry foul, I plan on using a NIST calibrated three liter bottle and a NIST calibrated chronograph.