[Putershark]

Yes, and yes...
Now for the rest of the physics involved... Stick your hand outside your truck window at highway speeds like a wing "but" only stick out 2 fingers (normal outboard configuration) see how much you have to change the angle of attack to create much lift.

Now put out your entire hand and make the same changes... The BMS plate has done the same just not as bad as one of those "massive" flexing plastic models. This is why I say you should not need to use as much engine trim (keep it flatter) to have the same effect as before, and IF you really pitch the engine nose downward (raised up while running), you can create some extra drag from having to "drag" that plate point downwards as it digs into the water. Go to the BMS home page and watch the video to see great examples of such.

The plate creates lift, but with the generation of lift comes drag... So your boat will handle different and it may take some time running it to learn how to trim it out (use less trim) at the different speeds both off and on a plane now that it is installed... If you get a increase in top end speed, good (some do and some don't) In theory, if you can reduce the amount of hull in the water while running on a plane, (like running with less fuel or weight in the hull) you will get a increase in speed for the same horse power used.

As far as skinny water goes (which I live in) the plate will help you launch quicker, but skinny water or deep makes no difference since water is water. The greatest effect of the plate though is being able to stay on a plane at lower speeds thus using less fuel...

Clear as mud now?