Re: Prop Slip
Slip is pretty much an irrelevent term (but fun to talk about) when it comes to props. You can easily find combos that show "negative slip" (meaning the boat is moving faster than theoretically possible) due to drive combos, prop cup, etc.
Your "20% slip" is due to the angle of attack relative to the water that's required for the prop to drive your boat at those conditions. You'll find that your slip varies from about 70% as your boat comes on plane to around 10% at top speed. 20% slip is about correct for the combination of pitch, RPM, and speed you posted. From the Mercury prop slip calculator:
http://www.mercuryracing.com/propellers/propslipcalculator.php
"Slip is the most misunderstood of all propeller terms, probably because it sounds like something undesirable.
Slip is not a measure of propeller efficiency. Rather, slip is the difference between actual and theoretical travel resulting from a necessary propeller blade angle of attack. If the blade had no angle of attack, there would be no slip; but, of course, there would be no positive and negative pressure created on the blades and, therefore, there would be no thrust."
Hopefully the 29 MPH at 3600 RPM is not top speed on your boat. If it is, you have a problem in that your RPM is about 1000 RPM too low. I would expect your boat to run around 40 MPH at WOT (wide open throttle) with your engine RPM between 4400 and 4800 RPM (real similar to what MikDee posted). At that point your slip will probably be 12% to 15%. If 29 MPH is your top speed, when is the last time you had a tune-up and compression check done on the motor? If 29 MPH isn't your top speed, post the conditions at top speed and let's see what your slip is.