Elevation / high altitude...
Engine power will be lost because of lessened atmospheric pressure and too rich a mixture. A reciprocal engine will operate with a fuel/air mixture between 11:1 (rich) and 15:1 (lean). At high altitude, setting the optimum mixture will smooth the engine running, but not get back 100% power. At 5,000 feet elevation, the best that can be expected from a non-turbo charged engine is approximately 75% of sea level power with the optimum mixture setting. If outboards had an exhaust gas temperature sensor and a mixture control (as in airplane engines), maximum power for any altitude would be set with the exhaust temperature at 125 degrees C rich from peak exhaust temperature obtained from leaning. To make up for the loss of power, the engine RPM's would be increased to have more power cycles per minute which would equalize the difference in power loss from sea level. However, fixed pitch outboard props don't have such a fine tune where such a combination of engine and a perfect prop pitch can be obtained: the engine can overspeed and bend connecting rods if the prop pitch is too fine.Re-jetting an outboard for high altitude will have it running too lean (and hot) for sea level. That's when exhaust valves burn and pistons melt. So...just remember to change to sea level jets when returning to sea level or your engine can fry at high power settings above half throttle. As for a finer pitched prop, unless your engine has an overspeed cut-out to protect the engine, I don't think that changing props to experiment would be wise.