Thanks for the post, JECE. That was informative.
I use as a reference here Paul Kennedy's work "Rise & Fall of the Great Powers", which is a tremendous work.
On p. 99 he has a chart of the military power of the great powers of the time over the 1700s.
In 1710, Spain's army was 30,000 strong. This puts Spain far beyond the other great powers.
France - 350,000
Russia - 220,000
United Provinces - 130,000
Sweden - 110,000
Hapsburg Empire - 100,000
Britain - 75,000
Prussia - 39,000
In 1789, Spain had 50,000 troops. France, Austria, Prussia, & Russia all had many times that amount. Only Britain had fewer - 40,000.
In terms of Navies; Spain had 34 ships in 1739 to Britain's 124, France's 50, Russia's 30, and United Provinces's 49. In 1779, Spain had 48 ships to Britain's 90, France's 63, Russia's 40, and United Province's 20.
Population-wise, Spain had 9 million in 1750 to Britain's 10.5 million, France's 21.5, Austria's 18, Prussia's 6, and Russia's 20.
Also, I should point out that in the Anglo-Spanish war of 1739, Spain was backed to the hilt by France, the major military power in Europe.
And you should probably mention that the only reason Spain got Louisiana after the seven years war was because France, their ally, gave it to them as compensation for their loss of the Philippines and Florida as a result of their entering the war. Those were big losses considering how briefly Spain was involved. The Philippines, while they got it back, they had to pay a ransom.