Re: motor reving
Is it actually, physically kicking the shift handle into the neutral position? If so, the clutch dog may be shot. It's located on the propshaft, inside the gearcase.
The other possibility (and quite likely) is the rubber hub of the propeller is slipping. The propeller is made up of three pieces. An inner hub, an outer shell (with the blades) and a rubber hub that joins the two. That rubber bit can deteriorate over time allowing the inner to slip free of the outer in the manner you described. Marking a line across the prop nut and propeller with a Sharpie, then running the motor until it revs, then checking to see if your line still aligns will show you for sure...