I have been on Propranolol for roughly 27 years (Yes 27) following a car crash and 2 month coma. I am also an avid athlete. Propranolol lowers my heart significantly but you can run, bike or lift. Elite athletes may get a benefit if you have strong mental skills. Since your heart is slower, if you endurance exceeds par, you can in fact workout harder for longer.
But I am finding for my length of time on the med. MY BP crashes after an intense exercise. MY Heart rate after exercise gets to 49 beats. I think this is unsafe. However, I have exercised my whole life on Inderal since 19 and never had a serious issue.
The short answer is yes.
To add to that, propanolol is a beta blocker, it will lower both your pulse and your blood pressure, which means you have to be cautious about intense exercise. People who are avid athletes (like runners, etc) have a much lower resting heart rate to begin with, so adding a beta blocker in there can cause some problems.
I would have a discussion with your doc about your concerns, they're valid. How do you take the Inderal, and at what dose?