RE: speed controls
First of all, the traxxas boats use sub-surface props. A true surface prop runs with the water passing through the center of its shaft, and half of the prop out of the water. The Traxxas boats, alteast the Villains and Nitro Vee's are sub surface, as onle a small portion of the prop actually breaks the surface of the water.
Secondly, the Novak speed controllers are far from what I would recomend, especially with Lipo cells. They have no voltage cutoff for the cells, and are not built for the maine environment. You can save a bunch of money and get a far far better controller but purchasing a RC-Hydros Victory control from [link=http://www.offshoreelectrics.com]Offshore Electrics[/link]. These are the best controller availible for brushed aplications, and are far cheeper than the Novak units.