Thanks everyone for the tips (get it..tips!) and especially Matchuk and Fred Gassit. I have sent the regulation Matchuk linked to and waiting to hear back on a reply. You may have saved me many 1000's of dollars. I have no idea why the prop is so expensive but i am guessing it has something to do with the prop shops (wont name name's) markup. The RV7's stable mate (Cessna) also needed a new prop apparently when sent off for its inspection as in that case the trailing edge out of limits, but the prop hadnt done much time at all.
As for the constant speed debate. I haven't tried a fixed pitch in anything other than a cessna, but i know my RV is extremely economical going from A to B at 8000-10000ft and I assume among other things that has to do with the prop operating at maximum efficiency. But without trying the same RV side by side who knows for sure and we all have our preferences.
Are there ways to get a new prop directly without the $25k price tag?