Londonj,
I suspect you are correct in your suspicions. I've seen the manoeuvre done once. As the aircraft's (upward) speed approached zero, torque reaction from the engine took over, and the aircraft began spinning in the opposite direction to the propeller.
Pplaspire,
Are you confusing propellers and jet engines? The wing area behind a propeller is only a small part of the total wing area, so it cannot produce enough lift to allow the aircraft to fly in zero wind. the engines on a Boeing 737 are beneath the wings, and so do not produce any lift.
There are a small number of aircraft designed for short take-off and landing which have the engine exhaust flowing over the upper wing surface. This gives an increase in lift, but not enough for flight in still air.