Propeller Basics
I was
going to write something on this subject but found this on the
web
Diameter
Diameter is two times
the distance from the centre of the hub to the tip of the
blade. Also it can be looked at as the distance across
the circle that the propeller would make when rotating. It is
the first number listed when describing a propeller.

Pitch
Pitch is defined as the
theoretical forward movement of a propeller during one revolution
-assuming there is no "slippage" between the propeller blade and the
water. For most boats, there is slippage and therefore the distance
advanced is less than the design pitch. The amount of slippage varies from
boat to boat. Pitch is the second number listed in the propeller
description.

Cupping
Many of today's
propellers incorporate a cup at the trailing edge of the propeller blade.
This curved lip on the propeller allows it to get a better bite on the
water. This results in reduced ventilation, slipping, and allows for a
better hole shot in many cases. A cupped propeller also works very well
where the motor can be trimmed so that the propeller is near the surface
of the water. The cup will typically result in higher top end speed on one
of these applications.

Rake
Rake is the degree that
the blades slant forward or backwards in relation to the hub. Rake can
affect the flow of water through the propeller, and as implications with
respect to boat performance.
Aft
Rake helps to trim the bow of the boat upwards, which often results in
less wetted surface area and therefore higher top end speed. Aft rake
propellers also typically "bite" better on ventilating type
applications.
Forward, or negative rake,
helps hold the bow of the boat down. This is more common in workboat type
applications. F Blade with no rake Aft Rake Outline of Blade with Rake
-F=d (Bow)

Ventilation
Ventilation is a
situation where surface air or exhaust gasses are drawn into the propeller
blades. When this situation occurs, boat speed is lost and engine RPM
climbs rapidly. This can result from excessively tight cornering, a motor
that is mounted very high on the transom, or by over-trimming the
engine.
Cavitation
Cavitation, (which is
often confused with ventilation), is a phenomena of water vaporizing or
"boiling" due to the extreme reduction of pressure on the back of the
propeller blade. Many propellers partially cavitate during normal
operation, but excessive cavitation can result in physical damage to the
propeller's blade surface due to the collapse of microscopic bubbles on
the blade.
There
may be numerous causes of cavitation such as incorrect matching of
propeller style to application, incorrect pitch, physical damage to the
blade edges, etc...
Be
advised disturbances in the water flow forward of the 4 propeller can
result in blade damage which appears to be blade cavitation, but is
actually due to non-favourable water flow into the
propeller.