I've cut off three old propane bottles for smelting pots and added handles. The first was a 25 pound bottle, but it's too deep cut about 2" above the weld. I've going to shorten it about 3" to make it more user friendly.
The other two are old 20 pound propane bottles cut just above the weld. These are much easier to use with my 8 pound ladle. They will hold over 100 pounds of molten lead about 2" below the weld, so filled up I would guess somewhere around 140 pounds or so, but it wouldn't be workable filled to the brim. You'd spill while fluxing and stirring.
The turkey fryers have to be beefed up if used a lot. My burner that's similar to the one in the OP is canted badly to one side after only two sessions (long ones), and is going to have additional bracing added to it before the next smelting session. My smelting sessions are normally for about 800 to 1,000 pounds of ingots, so they do get a lot of use and I use two burners and pots at a time.
RC is also correct in bracing the surface the pot rests on. It bends under both heat and weight. They just aren't built for the kind of use smelting involves, so increasing their strength is pretty necessary. It's not fun when a pot goes over..........
Hope this helps.
Fred