A new six-dimensional near-equilibrium potential energy function for propynylidynium (l-C3H+) is developed based on a high-level composite ab initio method. The importance of higher-order correlation contributions to the composite potential is clearly demonstrated. Variational rovibrational calculations were performed using the new C8v4 program based on Watson’s isomorphic Hamiltonian and a basis of symmetrized harmonic oscillator/rigid rotor product wave functions. The results of these calculations employing the new composite potential as well as a previously constructed quartic force field rectify long-standing discrepancies between theory and experiment. Effective Hamiltonian fits yield a ground state rotational parameter within 5 MHz of the experimental result and a quartic centrifugal distortion constant in virtual agreement with experiment. Spectroscopic parameters for low-lying excited vibrational states are presented which should provide a starting point in forthcoming experimental studies on l-C3H+. A close relationship can be established by comparing the properties of l-C3H+ with floppy C3 from which follows that l-C3H+ behaves in many respects like a “protonated”, albeit more rigid, C3.