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The 3212 prop is apparently a 13" diameter with a 11" pitch. That doesn't make sense to me.
WIth 1.5:1 gear reduction your shaft speed is 2800 at 4200-rpm engine speed. This equates to 2566 feet of forward movement in the period of a minute, or 29-mph without slippage calculated. With a reduction of approximately 15% for slippage on the deep V hull, speed would be in the 25-mph range. Therefore it's my conclusion the 13 x 11 3212 prop is wrong for the boat.
The 15 x 17 running at 2800 rpm shaft speed would result in a 45-mph speed, less 4.75 mph for slippage, giving a speed of around 38-mph, which sounds a whole lot more like it. Personally I don't like those propeller sleeves. You might keep that one as a spare, and look for a good one on ebay that precisely fits your shaft.