OK, sitting outside today, waiting for 5:00 to come around, I decided to play with your question.
Using boatdiesel's prop calculator I plugged in your 4 blade prop parameters, the engine hp and maximum rpms, then I played with boat weight until the calculator showed 22x18 pitch. I then changed the input to 3 blade and holding everything else constant, I adjusted hp and rpm so it would calculate a 23 pitch.
Lots of different hp and rpm combination would result in 23 pitch, but I wanted it to produce a hp that your 150 hp engine could make at wot. All NA, mechanically injected engines produce less hp at less rpm. I had a NA Ford Lehman hp curve that peaked at 150 hp at 2,400 rpm, just like your engine so I used that as my stalking horse.
I finally found an rpm/hp combination that produced a pitch of 23 that fit with the Lehman's wot hp curve. That was 140 hp at 2,200 rpm. That, as best as boatdiesel's calculator can tell, is where your engine will rev with a 3 blade 22x23 prop.
Then I adjusted the pitch so it would hit 150 hp at 2,400 rpm. That took a pitch of 20".
So, if you took 2" of pitch out of your prop you still would be over propped but not by much. If you keep the rpms down to 2,000 or less, you should be fine.
Time for that cocktail!!!
David