In marking the prop mark a straight line from the ID Spline to the OD barrel of the prop. If the line is not still straight after testing, hub is slipping....just clarifying a suggestion above so that the line connects the right places.
On the slippage, I know not the history of your usage habits but I have had the Forward gear sawtooth gears (drive and driven) develop rounded corners rather than designed sharp corners somewhat like a saw blade. With a weak clutch dog spring (the thing around the prop shaft that moves back and forth to select the desired gear) when you put power to the prop shaft, the original vertical portions of the gears are no longer straight vertical, but rounded on the tips and they can't stay meshed.....hammer down on it and it slipped; back off and it worked fine.....had this problem on a '65 110 HP Mercruiser boat I bought, well used.....er ah well abused. Buying that thing is a story in itself....half sunk in a marina but just had to have that Starcraft at the time and paid way too much for what it was.