Prop blowing out while turning
Propeller tends to ventilate
Less drag & low water pressure
Lacking thrust
Motor overheat & internal damage
Too much noise from the motor
Hard to see in that picture, but looks like it is already at the top hole (lowest motor in water setting?).
My 2019 22 GSR two log pontoon was at the highest bolt (lowest motor setting) and I could never trim up the 115 motor (prop dialed in for recommended RPMs) while above trolling speed.
I had Ultra Legs (Sea Legs) which may have impacted the situation.
Prop blowing out while turning
Propeller tends to ventilate
Less drag & low water pressure
Lacking thrust
Motor overheat & internal damage
Too much noise from the motor
With the RSB layout, there isn't much "furniture" wise that will block the motor noise except for the narrow backrest. Your motor position looks like your in the LOWEST mounting location ( ie #1 top most mounting hole) but can't tell 100% for sure. But from your pic, I can pretty much tell you that you are not mounted too high. Also you have no more holes left in the outboard to move it down lower.
For reference, my dealer put my 150hp Pro XS in the top hole (ie lowest mounting position), with my 2011 2275 RCW and I was able to raise my motor 1 mounting hole higher to get the best performance. So I was in the 2nd hole from the top at was running a Enertia SS prop with twin 32" elip tubes.
Mercury only makes the 150 4 stroke in a 20" and 25" shaft. If you have either of the 2 tube configuration's (ie twin 25" standard tubes or twin 32" Elip's,) your motor should be a 20" shaft length. I don't think you have a 3 tube boat, but if you do, your motor should be a 25" shaft.
Since you have no performance issues, unless there is some sort of internal issues going on with the motor as Jack said, then its probably just a normal thing.
I tried to upload a video of our Mercury Pro XS while pulling a tube to show you our noise level, but the .mov isn't a format that site allows. I might be able to upload it if you hit me up on a conversation portion of the forum??
Mercury's from 150hp and above really perform well with the Enertia props. However, I have really never noticed changing a prop made much of a difference on noise levels.
Here is a pic I had when we were sitting at the dock. I am not sure what the trim was at. But it certainly seems like the cavitation plate is not at the bottom of the center toon
Here are two pictures of my 26LX 350Merc ESP - they appear very different, one looks very deep, the other just under the cavitation plate; I will have to get some additional pictures next outing. But, it seems you need to drop your engine! Note - the "side" picture is before we filled up the Benny with equipment, and is from the dock which suggests nobody is on board. The second is FULL of stuff, and some people, and how we usually use the boat (and reached 47 mph).
Are you sure the cover on the motor is seated properly and gaskets are not curled or missing? The motor cover when not seated properly with allow a lot of motor noise to escape. It’s worth a check…
Here is how to measure the shaft length. Also, I had mentioned before but not sure I saw an answer, what tube set up do you have? The 23 RSB per Bennington's website will show either a twin 25" tube set up or the twin 32" elip that will be set up will be a 20" shaft. Any of the 3 tube configurations (ESP, SPS, etc) will be set up for a 25" shaft