don't forget fwd speed
Yea you are right I left some stuff out, but don't forget the fwd speed and prop tip speed combine to give a net velocity. The TAS of the prop tip which goes up with altitude, and the speed of sound goes down with temp at altitude. There is a net speed that combines the rotational TAS velocity of the prop plus the fwd TAS throught the air. In the P-3 and the Electra our Vne was controlled by the tip speed of the prop, as it approched .8 M, I believe, you could not exceed that speed even though the airframe limit was well above that limit dicated by the prop. If I remember Vne at SL was 405 KTS?, and at 310, it was like 205 kts.