On our E30+ we have a two blade Varifold folding propeller, geared so both blades consistently open at the same time. Over 12 years it had been problem free, though I do keep it clean of barnacles which can begin to grow in the gears if left unused for a longer time. They also make a three and four blade folding prop, but I don't have any experience with them.
Studies show my 2 blade folding prop to be as effective as many 3 blade props, perhaps because of the shape of the blades, but I do find it a bit "squirrelly" in reverse. I can reverse well enough to anchor effectively, but I do not try to back into a narrow slip.
I think it saves me about a half knot in speed while sailing because it folds nicely. I have seen feathering props, and they look very cool, but they are quite pricey.
Frank