Yes, while your filter run time will not need to be as high as before (266% more efficient pump)While it may only take your new pump 2 hours to circulate all of the water in your pool the SWG will not create chlorine faster because of this. I run mine 2-3 hours a day while the kids are in it and that works for us. We have a 16 'x 48" Ultra FRame wit the 4000gph pump and SWG, nearly the same setup as yours.
Thanks a lot for the info. I will continue to run the SWG as recommended.