We analyze the effect of time-dependent hydrodynamic interactions on the dynamics of flexible polymers in dilute solution. In analytical calculations, the fluctuating hydrodynamics approach is adopted to describe the fluid, and a Gaussian model to represented the polymer. Simulations are performed exploiting the multiparticle collision dynamics approach, a mesoscale hydrodynamic simulation technique, to explicitly describe the fluid. Polymer center-of-mass velocity correlation functions are calculated for various polymer lengths. Similarly, segment mean square displacements are discussed and polymer diffusion coefficients are determined. Particular attention is paid to the influence of sound propagation on the various properties. The simulations reveal a strong effect of hydrodynamic interactions. Specifically, the time dependence of the center-of-mass velocity correlation functions is determined by polymer properties over a length-dependent time window, but are asymptotically solely governed by fluid correlations, with a long-time tail decaying as t(-3/2). The correlation functions are heavily influenced by sound modes for short polymers, an effect which gradually disappears with increasing polymer length. We find excellent agreement between analytical and simulation results. This allows us to provide a theory-based asymptotic value for the polymer diffusion coefficient in the limit of large system sizes, which is based on a single finite-system-size simulation.