It's a real interesting setup but I would have to speculate that the out of the hole takeoff performance would not be good because that surfacing prop is going to cavitate like mad until you got some speed up. That large of a prop is going to have a huge torque reaction on the hull and they have used a large rudder to try to help with that problem. That's why v drives use such a small prop diameter, to minimize the torque reaction and it's still a lot with a little 11" prop like I use.
Once it got up on plane I would think it would be an efficient running boat.
The shaft is coming out parallel to the keel so if you trim it you are going to change the elevation of the prop more than you are going to change the thrust angle.