I will guess that your prop has been repaired prior to you owning it. As mentioned earlier it does appear to be missing some tip cupping, which affects the props Rake. Cup on the trailing edge affects pitch. I would take it to a dealer and compare it to a new one. Mercury has introduced a few new designs that might be more suited for your use
Yes it does, especially at the higher speeds but it's not rake and that's not it's purpose which is to improve the prop's grip, especially at high trim angles, tight turns at high speeds, where turbulence is usually present, and in near surface running in rough water where air ingestion is a problem. Usually adds the equivalent of 1" of pitch increase.
Rake is analogous to a pipe with a propeller in it. By tilting the pipe (PTT) you vary the pitch of the tube with respect to the hull. Lots more control than with a conventional stern lifting prop which acts like a prop just flapping in the breeze.
I don't know where a lot of you guys are coming from but I'll tell you this. If you ever get "hooked up" on a "pad" with a good bow lifting prop and adequate ponies to spin it properly, you'll realize that it is a totally different world of boating. I found out when I bought my 1989 Ranger. I had been boating since the mid '50's and never felt a boat behave like that. As I said herein earlier, I experienced the effect long before I had answers as to just what it was that I was experiencing. It's like your whole boat is sitting atop a water ski.....which is really what it is....a water ski with a spinning prop behind it.