Today, 14:13
I don't think you are missing anything, since the movement of the blades is not directly tied to the movement of the prop control lever. I'll explain.
There are basically three type of propellers - fixed pitch, variable pitch, and constant speed. CFS3 doesn't have the ability to model a variable pitch, but I can make one with the RSM.
With a fixed pitch prop, RPM is a function of engine power setting, and airspeed (mainly). Go faster, or increase throttle, and you get higher RPM. There is nothing to keep it from getting too high or too low.
A variable pitch propeller can change the pitch of its blades, adding a third factor to RPM. Here, the pilot directly controls the blade pitch, and can use that to adjust RPM manually. There is still no automatic system to keep RPM within...