Looking at the motor info http://www.mfacomodrills.com/gearboxes/919d_series.html it says that the motor is intended for "4.5 to 15 volts", so 6 volts is down at the bottom of the power range. A bit more rarely does any harm, so the suggested 7.2 volts sounds good. Losing some weight will do no harm at all. Using the traditional rule of thumb about the props being smaller than the motor can, with the gearing this is well fulfilled.
Even in the full size world, there is a lot of empirical estimation (posh for guessing with experience) when fitting a new design of ship with its props, one of the reasons for sea trials is to see if the ship can actually do what the makers claim. Given that there is an almost infinite range of variation in the design of prop blades, and each variation has its own effect on performance, there is unlikely to ever be a definitive formula that will appear in a book suitable for modelers. For "standard" brushed motors, however, the working rules are that the prop diameter should not exceed the motor can diameter, and it should not have more blades than the motor has poles. Adding gearing obviously makes the motor look bigger and appear to have more poles.