Measure the perpendicular distance between propshaft centre line and the hull.
Deduct 15% and this will give the radius of the largest prop which will fit without causing too much turbulence & vibration from interference between prop tips and hull. i.e. prop walk.
Then do the calculation for the engine/boat/prop combination using the prop calculator on Castle Marine's web site for each gearbox ratio:-
http://www.castlemarine.co.uk/pitch.htm.
This should give the basic data for pitch, boat speed and efficiency etc.
If a suitable prop is found for the higher ratio (i.e. 2.62) it should give best propulsion.
BUT a big prop causes much more drag when sailing so this route should only be followed if it is intended to fit a feathering (or folding) prop.
If you are concerned with sailing performance without fitting a featherer or folder then a smaller prop with two narrow blades is required and the 2.21 gearbox will give this - although you will almost certainly be disappointed with both sailing and motoring performance.