oooooooo, thats a whole can of worms right there. Bernoulli's principal was worked out on a fluid and not in an airmass (although they are almost the same in theory, there is enough evidence of differences to disprove that the theory is relevent to aerodynamics) I have this discusion with students on a regular basis. It makes them research a little harder.
Just being a stirrer and a disscusion starter.
have a read of A.C. Kermode's Mechanic of flight.
As for the prop balancing, I start at the rear of the tip for the blades and move to the hub. for a really bad one, I will drill a few shallow depresions into the hub, then bring the weight back up if I have over done it with a epoxy micro ballon mix. then I usually take it out and dork it into the ground and break it.