You are effectively asking several closely related questions here, and they do not all have the same answer, although the answers couple.
I will try to answer:
- Are physics and physicalism the same thing?
- What is the definition of physicalism, and what does it exclude (reduction, abstractions, causal mind)
- How legitimate is it to infer the truth of physicalism from the success of physicalist reduction?
Are physics and physicalism the same thing?
No. Physics is a sub branch of science, which is a family of related methods of doing empiricism reliably. Empiricism, and science, are intrinsically open (there are always unanswered questions), and "perpetual uncertainly" about one's models and conclusions is an essential presumption.
Physicalism assumes a conclusion of science -- that when science is finally done -- there will be only one type of thing revealed to exist in the world -- whatever it is that is studied by physics.
What is the definition of physicalism, and what does it exclude (reduction, abstractions, causal mind)
To answer this, I reference this answer on what modern theoreticians of physicalism think is the definition: https://philosophy.stackexchange.com/a/135151/29339
Stoljar did not think physicalism can be defined, and it should be abandoned as a philosophical view.
Papineau accepts that minds could exist and be emergent from "physics", but not be causal and still hold by physicalism. Stoljar disagreed on emergence, and considered reduction to be central. Kim considered non-physical emergent minds, even if they are non-causal, to contradict physicalism, and thus became an epiphenomenal dualist. Melnyck considers minds to be a delusion, which removes one major type of data from what he has to explain, and commits to reduction.
Kim also rejects the assumption of the existence or causal nature of abstractions as contrary to physicalism, and therefore rejects the most popular current philosophy of mind, functionalism, as a non-physicalist theory (because functions are abstractions, and causal in functionalism). Papineau left the acceptance of functionalism as an open question for physicalism. Melnyck admitted that physics presumes the reality and causal nature of abstractions, and that they do not reduce to matter, but did not then explore what that would mean to his belief in a monistic "physicalism" that has two different base substrates.
As physics fully accepts information as a causal/bounding parameter, and most theoretical physicists seem to think that math sometimes "gets fire in the equations" in the words of Stephen Hawking, and basically creates physics -- it is actually reasonable to treat physics as a dualist matter/abstractions field, and then treat physicalism as a dualist ontology. IF one does this, THEN, contra the four theoreticians I cited, functionalism (where mind is assumed to be identical to the performance of a set of functions or algorithms) could be a "physicalist" philosophy of mind.
Your definition proposed to accept emergence FROM physics, but that that physics remained the sole substrate. If you accept that physics is matter/abstract dualism, then you could concievably accept the emergnece of mind as a new phenomenon from physics -- leading to Popper's triplism. And per your definition, Popper's triplism would be considered a version of physicalism.
Two final points in your definition -- tying the definiton of "physical" to "measurable" is to reject a variety of social sciences. The existence of markets, norms, beliefs, etc. are not "measurable". Similarly, the existence of core principles in physics: spin, quark type, causation -- are not really metricized. Some aspects of most of these can be metricized, but ideas are more fundamental than any neuralization of them. Metricization as a criteria will break, if pushed.
Additionally, trying to define a "property" as physical or not -- can quickly tie one into knots. Is the color of a stop sign, or its hardness, physical? If I imagine a stop sign, and knocking on it, is its color or hardness actually "physical"? One is far better assigning properties to a physical thing, or a mental thing, rather than trying to define "physical" with abstract massless and locationless "properties".
None of the four I cited, you, or the emergent physicalists who would accept Popper's emergent consciousness as physical, have converged on a specific shared definition. Physicalism is a broad research programme, per Imre Lakatos' Research Programme approach to characterizing science. I recognize it as a family of beliefs, even if it is not explicitly definable.
How legitimate is it to infer the truth of physicalism from the success of physicalist reduction?
Papineau made this an explicit claim in his paper The Rise of Physicalism. He argued that YES, most scientists and philosophers observed the significant success of reducing about half of chemistry (valence theory, bonding theory, periodic table of the elements) to physics, and of reducing some of the most mysterious aspects of cellular biology to biochemistry in the early decades of the 20th century were astounding. Under Lakatosian principles of accepting a research program which is progressive, and abandoning one which is regressive, a huge number of major thinkers abandoned idealism and dualism, and embraced physicalism.
However, Papineau stopped his discussion at the conclusion of the "rise" period of physicalism. The subsequent 3/4 of a century has not shown the same sort of progressivity as the first half of the 20th century did. The inability to reduce abstractions to matter, the stalling out of chemistry at roughly 50% reduction, the failure to reduce basically any other science, the failure of physicalist theories of consciousness which is called the "hard problem of consciousness", and the discovery in systems theory that the same "systems phenomena" appear in a diverse range of substrates (economics, computer networks, traffic patterns, monetary systems, language usage, etc.) tend to be characteristic of a research programme that is becoming regressive.
The answer to your ultimate question is -- yes it was reasonable at one time, but maybe no longer is.
There are good reasons that there is a decreasing level of acceptance of physicalism, and a revival of multiple rival ontologies.