Re: frustrated
Knowing your drive ratio tells me you have a fair amount of slip. As much as 22% with the 19 pitch. This isn't awful, but it's not great. Frankly it's typical for a basic aluminum prop on an I/O.
A high quality stainless will reduce the slip. Less slip = better accelleration and better top speed. It'll be better, but it won't knock your socks off or anything. My recommendation for trial pitch remains the same as I wrote above...probably 18 for aluminum, maybe 17 or 18 for stainless. 4 blades is better than 3 for your purposes.
If you provide a full-speed WOT trimmed-out RPM and speed data from that 20 pitch 4 blade aluminum you currently have, it will help me be more accurate on a recommendation.
I disagree with your dealer on the 4,600 thing...have no idea why he beat that into your head, and I believe it has contributed to your frustration. To make yourself feel better read the sticker that Mercruiser installed on the top of your engine...I figure Mercruiser knows more than a guy at a dealership does. I'm willing to bet you most likely the Mercruiser sticker says "4,400 to 4,800" for a recommended operating range...heck it might even say 4,600 to 5,000? But I doubt it...I think it was the MPI's that sometimes recommended up to 5,000 and not the carb'd motors. Notice I don't believe Mercruiser even uses the term "max" on that sticker....it'll survive running faster than 4,600 no problem as long as you don't go hog wild.
Granted 4,600 is right in the middle of the range, which is fine for "average" boating. But it's not ideal for holeshot, which is your priority. You'll hurt absolutely nothing if you keep it under 5K the majority of the time...and even if you sustain it for a little while when you feel the need for speed...
If you insist on keeping it propped for full speed at only 4,600, you will not be able to maximize your holeshot without throwing a LOT of stuff overboard and reducing weight...that's why I say you gotta prop it for 5,000.
I realize I'm just a monkey giving free advice on the internet, but if it makes you feel any better, I have my boat specifically propped for 5,000 rpms (mine is a 20 ft 5.0L, but it also has a 4,400 to 4,800 sticker on it), and frankly I run it at those top speeds and RPMS rather frequently. It's a 1999 model with 800 hours on it. It runs as good as new, burns zero oil, compression specs still same as new...and it rips outta the hole like you wouldn't believe...on plane in about 2 seconds. Wanna pull up 2 fat guys on slaloms out of a deepwater start at the same time? Probably closer to 4 or 5 seconds but still NOOO problem...