I know you have more info then you probably need but I do see a few definite problems. The first is prop. You will do some real long term damage to your outboard that under pitched. I know they are not cheap but spend the money and get a prop that you can full throttle and puts you in your optimum RPM range and save repair money in the future. That will take a ton of strain off your motor! Its hard to find the right prop untill you get the motor hight correct though because that will change RPM's as well. As for hieght of motor, lots of people set thier motor hieghts different ways. Just going through a new motor swap myself I can say that every exspert I talked with said to get on plane and trimmed out to a smooth ride and you should be able to see your anti-cav plate with only a bit of water going over it (More mist than flow) Any lower and you will have more resistance under water than needed. Once your motor is set at the proper hight then you can test props to find the right pitch. I would almost bet if you did both of these like most factories suggest, you may help your porpusing problem a ton without a ton of extra steps. But I still think the trim tabs are ganna be needed with that much weight in back. Once again good luck, let us know what you come up with.