If the boat was not at WOT at 4200, it might be propped correctly. You could run it up to WOT and see where she runs out - if she runs above 4800, you want to reprop with a higher pitch prop.
If you never intend to run it over 3900 to 4000 RPM, you could prop it to max out at that engine speed. That would be a higher pitch prop than you are using now. The prop you have now probably has some numbers on the hub or somewhere that lists something like 14 x 17 or maybe 14 x 15. That means 14 inch diameter and a 15 or 17 inch pitch. Most V6 outboard props and Mercruiser Alpha drives use a propeller with a diameter somewhere around 14 inches.
Pitch is the distance the prop travels through the water in one revolution. Pitch is like transmission gears - higher gives more speed, but lower gives better acceleration. The best prop balances top speed with acceleration. Typically you want the boat to run out of power and reach top speed at the recommended maximum continous RPM. In the case of the 4.3 Vortec V6, that's 4500 to 4800 RPM. However, if you only intend to run it at a max of 4000, you can select a propeller with a higher pitch and the RPMs will come down. Say you are running a 14 x 17 now - you could go to a 14 x 19. You will give up some acceleration (hole shot) and some top speed, but will not have to worry about over-revving the engine and may get some improvement in fuel economy.
Again, trial and error might be the easiest - take all the props with you along with a screwdriver and a 1-1/16" prop wrench and try them until you get what you want. It only takes a few minutes to change a prop - you can do it at the dock, so you don't have to take the boat out of the water. Just don't drop the nut, washer, or propeller in deep water - they don't float! However, some of the plastic prop wrenches do!
If you need instructions on how to replace the prop or more info, go to:
http://www.boatsville.com/boating_how_to.cfm?tipID=212http://www.wikihow.com/Install-Your-Mer ... -PropellerYou can use any 1-1/16" socket to remove the nut, or you can buy a special (even floating) wrench made for prop nuts for about $10. And don't overtighten when replacing! Bass Pro Shops plastic prop wrench is less than $10:
http://www.basspro.com/webapp/wcs/store ... rchResultsGood luck!!