Turns out the ESC was set too rich as all the magic smoke came out after a minute or 2 of running it during its test.
Seriously though the ESC was crap since I got it(came with a dirt cheap RTR that was a clone of a Tamiya

). So no loss. At least I know the drive chain works
I was shocked to see the Traxxas stampede's gearbox had almost exactly the same dimensions as the MT2 center gear setup