Don't order those AA batteries! They're not good enough for what you want to do with them. Pick up some GP3300, GP3700, or IB3800's. They're all right around the same price, the 3300's the least expensive.

Onto your rigger: You have it setup for subsurface drive, which won't do. Riggers are hydroplanes, you need a surface drive on there with the rudder off of the back of the hull, not out of the bottom. You gotta let that thing air out! Your prop looks like it's chewed up and is probably very inefficient.

I'm not sure what a good prop would be for a 700 in a rigger.

Here's a good link to a rigger setup: http://www.rcboataholic.com/building...ard_rigger.htm