there aint no such thing as a cutback shaft. a cutback prop has been machined off so the hub will sit farther back and closer to the stator veins. the less distance between the trailing prop edge and the stator veins, means less prop slippage and greater pump efficiency. also makes the prop act like a higher pitch prop since it slips less.
a setback pump puts thinner stator veins farther back. thinner veins creates less water friction than a 3" vein. also requires a setback shaft since the bearings are only 1" apart as opposed to 3" apart. a setback shaft is about 2" longer on the front spline side and the back gets cut off 2" since the vein and bearing section is 2" thinner and the bearings are only 1" apart.