Re: Underpowered or overpropped
Yes, that looks like a heavy hull. It does remind me of the old Chrysler boats with the small sponsons in the front--not really a cathedral hull.
That prop looks like the Vortex prop I have. I don't use it because in the same diameter and pitch, it does load down my engines way more than the stock type props and does not deliver more speed.
While a good prop shop can reduce area and change pitch, I would not mess with that. You don't know what the final performance result will be and you have invested money. Besides, When my daughter did not listen to me and "found " rocks, I did cut down an 18 spline, two piece gearcase, Michigan aluminum by about 3/4 inch. Essentially, it performed about the same, maybe 200 RPM more--I don't remember exactly.
If you go onto ebay and search for Chrysler and Force propellers, you will find a couple of 17 pitch old (stock) props (that you can not find here at iboats). Some are a bit expensive and some are reasonable. There are even one or two stainless for under 200 bucks.
Let me disabuse you of the notion that 5500 is the "redline." It is just the manufacturers upper performance limit for recreational use. Note that my 125 was run at 5900 on my little 14 foot go-fast. Note also that some outboard manufacturers list 6000 as their upper range limit. In fact, since there are no valves to "float" These two cycle engines can exceed 6000 by a wide margin without damaging themselves.
Of course, the higher the RPM and horsepower output, the shorter the engine service life. An extreme example would be a 10,000 RPM, 5000 HP dragster whose engine life is measured in seconds--they are rebuilt after every 1/4 mile run.
However, running your moderate horsepower engine at 5500 or slightly more will do nothing to decrease its service life.
I can not tell from the photos, but if your cavitation plate is sitting even with or slightly below the hull bottom, you MAY benefit by raising it to an inch above. This does have performance gains on some hulls but does result in ventilation on others. You don't know unless you try.
My cuddy, for example, WILL ventilate and cavitate with the engine that high. In fact, even now with the plate even with the bottom, I can only use about 1/2 of my available trim. More than that and she loses grip. Yet, the boat in the avatar has the engine raised and it is solid, even at full trim, and even in turns.