What condition are the blades? Nicks? Filed areas? Chunks missing?
When you say you hear the RPMs increase, are you just hearing more induction noise, or does the Tachometer show a substantial rpm increase?
My guess is you are over trimming the drive too much for your current prop and you are experiencing ventilation/blowout. It might be due to a prop that has worn blades and/or damage tot he blades. Some higher performance props are designed to hold the boat higher out of the water at lower trim settings, and their blade shape/design can offer a more secure bite on the water.