This study explores the practical viability of repurposing aging Kaplan turbines into variable-speed propellers by employing full-size frequency converters. The motivation behind this approach is to improve the provision of Frequency Containment Reserve (FCR) while reducing fatigue in the Kaplan blades servomechanism. We evaluate the performance of these modified Kaplan turbines against the one of another hydro asset composed of the same Kaplan turbine hybridized with a Battery Energy Storage System (BESS). Experiments are conducted on a one-of-its-kind reduced-scale model testing platform. Our findings reveal that Kaplan turbines repurposed as variable-speed propellers exhibit similar dynamic response characteristics compared to the standalone Kaplan operation, with the added benefit of effectively eliminating blade movements. Furthermore, the ability to control the speed increases the hydraulic efficiency for certain operating points. In summary, investment in variable speed technology emerges as a viable alternative to BESS-based hydropower hybridization.