Success! I got the last bearings I needed in this AM (needle bearings for the long shaft) so felt obligated to hastily reassemble and test before I missed the tide
Pulled it off, got in the water and it ran great. Sounded perfectly smooth, and of course really made a difference in performance. Not only is the prop
much further underwater, so its not pulling air, but the longer torque arm helps to get up and out of the water and onto plane. Much more responsive, higher speeds at lower revs, and much better top speed.
Thanks for all your help! I'll see if I can't snag a picture of the whole setup soon...