I'm certainly no expert in this field, but i'm fairly sure that the faster a prop aircraft goes, the less efficient the propeller becomes. Taking this to its logical conclusion, my thoughts would be that it must reach a point where it can no longer produce useful thrust, and therefore is unable to accelerate the aircraft any further. So, it would then seems that it (the propeller) can't push/pull the aircraft to a speed where it creates more drag than thrust. Only to a point where it can no longer produce usable thrust. Drag on the airframe vs engine power may stop it ever reaching this point as well - but im ignoring airframe drag for now.
I guess a dive, using gravity to exceed the speed the propeller and engine could normally propel the aircraft to, would mean exceeding the the above point and then i would assume it would create more drag than thrust.
Like i said, im no expert here, and dont take my reply as a statement of fact, just my own quick thoughts.