Thanks to the efforts of Dave King - Pygmalion received the DLK hull fairing and a used 17" Max Prop in December. 
Below are motoring only performance figures before and after the fairing. 
Speed tests are averages between a course to the west then a reversed course to the east in the Alameda Estuary - winds very low in both cases.
Speed is in knots - Beta 1505 38 HP with 1:2.5 transmission.
  
    
      | 11/15/14 Before Fairing 16 x 16 fixed | RPM | KMeter | GPS SOG | 
    
      | Off Idle | 1000 | 2.75 | 3.15 | 
    
      |  | 1500 | 4.25 | 4.75 | 
    
      | Cruising | 2000 | 5.25 | 5.70 | 
    
      | Max Throttle | 2750 | 6.30 | 6.75 | 
    
      |  |  |  |  | 
    
      | 1/10/15 After Fairing 17" Maxprop 24 deg pitch |  |  |  | 
    
      | Off Idle | 1000 | 3.60 | 3.55 | 
    
      |  | 1500 | 5.10 | 4.85 | 
    
      | Cruising | 2000 | 6.00 | 5.95 | 
    
      | Max Throttle | 2500 | 6.75 | 6.55 | 
    
      | Wide Open Throttle - Neutral | 3200 |  |  | 
  
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Looking at the results the Max Throttle at 2500 rpm indicates an over pitched prop.  Fixing the pitch will have to wait until the next haul out in a few years.  
I also noticed that the "prop" noise seemed louder then the 3 blade fixed.  
I suspect that the new 17" prop (verses 16" fixed prop) plus fairing resulted with the blade tips being close to the hull and is a cause of increased blade noise.  
I also suspect that the blade design for the Max prop is noisier then fixed blade - comments from others who have switched?