I've been interested in why manufacturers use different gear ratios with different diameter and different pitch props and what the compromises are but it's not something I'm going to be concerned about for my own boat as long as WOT rpm and speed are close to spec.
Seems to me prop slip could be defined in 2 ways, (1) Speed of boat versus pitch of prop x prop rpm, (2) Speed of the column of water the prop is shifting versus prop pitch x prop rpm. I expect the 2nd definition is always going to be a higher figure than the 1st definition.
All props have some slip by the 1st definition - If you're tied to a mooring but drop into gear you can see the prop turning but the boat isn't moving, that's 100% slip by the 1st definition, difficult to test or calculate slip by the 2nd definition? If there was no slip (and since there's no torque convertor or clutch to 'feather') the engine would just stall if there was no slip because the boat wasn't moving when you dropped into gear. The column of water the prop is moving (even if the boat is tied to the mooring and not moving) gives some thrust, the mooring line is going to be tight and if you untie from the mooring the thrust will move the boat.
I think delving much deeper into it will soon get complicated, probably easier to do by experimentation than try to calculate what would be the ideal prop over a range of conditions. I might expect a bigger prop to have more grip in the water because it's gripping in a wider column of water but the bigger prop is also going to have more drag in the water than a smaller prop, unless fitting a smaller prop would mean having to turn it faster to achieve the same thrust or more pitch, in which case the smaller prop might have the same or more drag than the slower turning bigger prop?
Seems you need some definition (1) slip or acceleration would be slow, without it it would be like trying to set off in top gear in a manual car without a torque convertor. Still definition (2) slip difficult to measure or calculate, might expect bigger pitch to be more efficient at higher boat speeds and vice/versa because the angle of the prop blades points more toward the direction of the blades travel through the water (more pitch = less drag at higher speeds but more drag at lower speeds)?
My boat has a 14.5" diameter by 19" pitch prop, I wonder how a smaller diameter prop with more pitch or bigger diameter prop with less pitch would compare... I expect it would be possible to get the same RPM at WOT but I think it would be difficult to calculate how they would affect top speed, acceleration and part throttle fuel economy. Taking it to the extreme, if it were possible to fit a Titanic sized prop to my boat and change the gear ratio so the engine could reach correct WOT rpm I don't expect it would move my boat as quick as the prop I have fitted even if it had less slip (and weighed the same as my prop). But at the other extreme if I fitted a 2" diameter prop and geared it up, that wouldn't work either. But how would 13" diameter with more pitch or 16" diameter with less pitch, if they both allowed the engine to reach the same rpm at WOT, compare at full throttle and at part throttle?