With your setup I think the Vensura prop should be excellent. It is what I used on my 18' I/O and I found that it worked more efficiently with better starts than the Highfive. You want to try it with the plugs in, then take them out, then try drilling a small hole in each of the plugs and increasing the size of the hole until you have a good start. Start at 1/8" They make plugs with varied sized holes already in them if you would rather do that. The holes vent the prop so you get more slip at slow speeds and as you travel faster the venting effectively stops so you don't have slip when cruising. The slip at start gets your RPM up to a better range so the torque is higher and your holeshot is faster and smoother.
You should be able to run with a full tank and with 500# of ballast up front. Of course, cruising with the extra weight of the ballast will limit your speed some but you will be going about 19mph on GPS when wake boarding to maximize the size with that weight in that boat. If you have trim tabs, only use them for holeshot and once the boat is up raise the trim all the way up. The drive should be all the way in on starts and then trim up, maybe 25%, to increase the wake size and shape it. This makes the stern get pushed down and the front ballast will keep you from plowing too much. It's generally better than putting ballast in the rear on an I/O.
I used a foil to give me better control at speeds below planing. The steering was heavier at cruise but it made life better for water sports. Helm adjustable trim tabs are wonderful things with many benefits, but the foil is much cheaper. I now have and inboard wake boat.