By my math,
46 PPG × (4.5÷16) pounds ÷5 gallons = 2.5875 points
0.0025875×131.25 = 0.339609375, or .34% ABV in a 5 gallon batch primed with 4.5 oz dextrose. Pretty much in line with what everyone else said, but it's my 2 cents.
Bottled: Modded Sierra Madre Pale Ale, Irish Red, Ska True Blonde Clone, Chocolate Stout (Partial Mash), Dead Ringer IPA (Partial Mash), Cider, Dead Ringer IPA (Extract), Orfy's Mild(AG), Busty Brunette Blonde(AG), Dead Ringer(AG), Chocolate Stout(AG), Pumpkin Ale(AG), Tits Up IIPA(AG)