Re: prop cover
you NEED to get an OEM prop cover from either mercruiser or volvo depending on what you have
if you don't prop gnomes will move into it, make house and lay eggs in it - come spring you will have to post an ad on craigslist stating you have prop gnome babies to give away - hopefully you will be able to get rid of em!!
seroiusly though, you dont need to cover your prop with anything, it will be fine
as far as covering the portion of the drive that is exposed from removing the prop, if you feel the need, a large plastic trash bag will be suitable
don't forget to grease the splines in the spring when you re-install the prop