If that's what the boat weighs in at with no fuel and no weight added then yeah, try it. Especially if that's for the 101. If the boat is too flighty, don't be scared to drop the motor. That's a lot of power for that boat so the prop sitting at or below the sponsons won't hurt a thing.
Consider the fact that a prop deeper in the water means a more continuous blade in the water, therefore a more continuous power band. One of the reasons why we run our .21 engines so high is because the engines are all RPM based with minimum bottom end torque, so in order to pull the bigger props that a lot of guys want to pull like the 1440s or the x442s, the motor has to be raised for the engine to unload, which in turn causes a lot of handling issues for many.
With a big engine like that, you've got plenty of torque to go around so setting that prop deeper in the water to keep the boat on the water down the straights shouldn't hurt a thing, while also keeping the cg farther back in the boat and therefore improving cornering characteristics by helping to keep the nose up and the back end down preventing hooking, rolling, etc.
-Jr.