Guys,

Again thanks for the advices.

Here is what I did:
1. as suggested by Jan, I cleaned the cable mess.
2. I re-checked the shaft, lubed aso.
3. I wrapped aluminium around the RX, and cables around the ESC

RESULTS:

Much better...
I guess its my ESC

Thanks

Wis

PS: Jan, I didnt wet sanded the hull with 600...I used SAIL Kote