Props are a science and an art. In general, you will find a 4 blade prop will be a little less efficient at cruising, but will get the boat on a plane quicker due to more blade area. Blade area helps with torque, but also causes drag. This is why really "go fast" props - think racing boats here - usually are only 2 blades. Race boats usually don't care about hole shot...
3 blade props are a nice blend of efficiency and power. You want to typically prop the boat to hit top speed at close to the upper operating limit of the motor. This will also usually give a good cruise economy at a lower throttle setting. To optimize, you can run speed vs. fuel flow if you have the equipment, but it's also a general summary that AS boats seem to like about 25 MPH. This should be well below top speed for your boat and top RPM for your motor if it's propped right.
If you want to tweak a bit more ecomony (at the expense of hole shot and time-to-plane) you can "over-prop" the boat a bit. Let's say you get 40 MPH at 5500 RPM with a 17 pitch prop. That would be pretty well propped, assuming your engine has about a 5500 RPM upper recommended operating RPM. Going to a 19 pitch prop would probably give more speed, but you may not get over 5000-5200 RPM, and your hole shot and time-to-plane would be longer. But - you would probably find a 10% improvement in fuel economy at 25 MPH due to the engine running a lower RPM in a low-load condition.
Another consideration is cost/benefit. We all HATE $3.00+ per gallon fuel, but let's say you get the mileage my CCP gets at cruise - 3 mi/gal at optimim cruise, or 8.3 gallons per hour at 25 MPH. A 10% improvement is .3 miles per gallon - or 7.6 gallons per hour at 25 MPH cruise. That's .7 gallons per hour, at $3.00 per gallon, only $2.10 per hour. It would take you 150 hours to make up the cost of a new $300 propeller. Most folks don't run much more than that in a season.
Here's where the REAL EASY gas saving is - trim! Trimming the motor out to just before caviatation can get you an easy 10-20% increase in fuel economy - and it's free (except for some ride suffering in choppy water). So try to remember to trim that baby out when you want to travel a distance and save some $$$ !!!
Hope this helps! See ya on the water...