Dumas doesn't have a 36" Circus Circus kit. They have a 43" kit that looks like this:
Now, if that's the boat you have, I would recommend using the wood parts or templates and build it out of a good grade of plywood rather than the garbage mahogany they used in the kit.
As far as motors and ESCs go, a NEU 1527 1.5Y 850KV or comparable is what is used to race with in scale hydroplanes. An ESC capable of handling 8S and no less than 130 amps is also required