Don't really have anything to add other than to notice that we're practically neighbors, but hopefully something here will be helpful...
Rather than buying an optical tach, there are apps available for Windows laptops, Windows Mobile PDAs, and even the iPhone/Pad/Pod Touch which will determine the engine RPM from the sound it makes. The iPhone app is $9, but the Windows ones are free at http://www.tunelab-world.com/rpmsound.html. Or, if you decided that you wanted an electronic tach in your plane, this might be a good time. The point is, of course, to confirm that you're getting a good RPM reading, and that you really do have a problem.
Assuming that your tach is anywhere near accurate, my guess would be the prop is the more likely source of the problem, just because it seems that it would be a simpler explanation (fine pitch stops set too coarse). When you apply takeoff power, does the RPM rise smoothly to your max RPM (and what is max on your takeoff roll), or does it overshoot and then settle back down? If the latter, it would indicate that the governor is acting to reduce the RPM.
Do you have an engine monitor? It could answer a lot of questions that might help diagnose the problem.