Yes, an interesting old thread. Especially interesting in that the quoted question was really never answered.
"This leads me to my question. Why does everyone say (parrot) "prop=less water retention?" It seems logical to me that prop should have MORE water retention since it contributes to a more uneven level of test since a lot of test gets dumped out and de-esterifed immedietly. This gives evil enzymes like aromatase a lot more substrate to work with. Can anyone answer that?"
I recall that Roberts discussed this question at some length back in the late nineties. He concluded that, while it has been alleged popularly that some esters aromatize more than others, there is no support for this in the scientific literature, and the concept makes relatively little sense since the ester itself is very far removed from the site of reaction of aromatization. His answer? That the difference is probably "perceived" and not actual.