Well, this'll add a little more confusion, or take some away.
Oxygen-Propane only gets to around 4600 degrees whereas Oxy-Acetylene gets to 5500-6300 degrees. Oxy-Propane is OK for brazing and soldering but not for welding. This explains why it takes longer to preheat.
Additionally, Acetelene regulators are only designed to deliver around 10# max output pressure, whereas Propane regulators will generally deliver 40 to 50#. Many Propane torches, such as "Turbotorch" (air/propane) operate at 35 to 40psi.
Most hoses I've seen have a Neoprene inner layer, and propane will not have a derogetory effect on Neoprene.
I can't honestly recall ever using an Acetelene regulator on Propane myself, but I do know it can be done. Many of the prepackaged torch sets being marketed today are sold to operate either way.