The motor is warm, not really hot to touch at all.
I used this gear calculator:
http://www.rcuniverse.com/community/gearwizard.cfm
and I get a Gearing quotient of 12.711 and a Rollout Ratio of 0.989
Isn't a rollout ratio above 0 for top speed and below 0 for acceleration? I ordered a pinion and spur that gets me down to 0.604